Mutual of America Capital Management LLC Acquires Shares of 21,594 Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Mutual of America Capital Management LLC acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,594 shares of the company's stock, valued at approximately $776,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its position in shares of Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company's stock valued at $25,000 after acquiring an additional 373 shares during the period. Quarry LP grew its position in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company's stock valued at $25,000 after acquiring an additional 536 shares during the period. International Assets Investment Management LLC bought a new position in shares of Zurn Elkay Water Solutions during the 2nd quarter valued at approximately $29,000. V Square Quantitative Management LLC bought a new position in shares of Zurn Elkay Water Solutions during the 3rd quarter valued at approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Zurn Elkay Water Solutions by 732.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company's stock valued at $42,000 after acquiring an additional 1,267 shares during the period. Hedge funds and other institutional investors own 83.33% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Oppenheimer increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Robert W. Baird raised their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Finally, Mizuho raised their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions presently has a consensus rating of "Hold" and an average target price of $38.17.

Insider Activity

In related news, CEO Todd A. Adams sold 120,000 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the transaction, the chief executive officer now owns 2,242,867 shares in the company, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeffrey J. Lavalle sold 3,132 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $122,617.80. Following the completion of the transaction, the vice president now owns 35,422 shares in the company, valued at approximately $1,386,771.30. The trade was a 8.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,688 shares of company stock worth $8,400,151. 3.00% of the stock is currently owned by corporate insiders.

Zurn Elkay Water Solutions Price Performance

NYSE:ZWS traded up $0.01 during trading hours on Wednesday, hitting $39.74. The stock had a trading volume of 107,968 shares, compared to its average volume of 1,105,762. The company has a 50 day simple moving average of $37.10 and a two-hundred day simple moving average of $33.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $40.64. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 50.29, a P/E/G ratio of 2.04 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The firm had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. During the same period last year, the firm earned $0.29 EPS. The business's quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. This is a boost from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 45.57%.

About Zurn Elkay Water Solutions

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.