New Age Alpha Advisors LLC Takes Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

New Age Alpha Advisors LLC purchased a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,216 shares of the company's stock, valued at approximately $642,000.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC increased its stake in Zurn Elkay Water Solutions by 85.7% during the third quarter. Barclays PLC now owns 304,731 shares of the company's stock valued at $10,952,000 after purchasing an additional 140,624 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock worth $94,161,000 after purchasing an additional 868,748 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zurn Elkay Water Solutions by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company's stock worth $58,077,000 after purchasing an additional 329,563 shares during the last quarter. Geode Capital Management LLC increased its stake in Zurn Elkay Water Solutions by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company's stock worth $117,060,000 after purchasing an additional 35,570 shares in the last quarter. Finally, Perpetual Ltd lifted its position in shares of Zurn Elkay Water Solutions by 8.4% in the 4th quarter. Perpetual Ltd now owns 214,189 shares of the company's stock valued at $7,989,000 after acquiring an additional 16,520 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

Remove Ads

Insider Transactions at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now directly owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ZWS shares. The Goldman Sachs Group lowered their target price on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $37.67.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE:ZWS traded down $2.83 on Thursday, reaching $30.66. 1,372,832 shares of the company's stock were exchanged, compared to its average volume of 1,084,861. The company has a fifty day moving average of $35.57 and a 200-day moving average of $36.89. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.01 and a beta of 1.16. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a twelve month low of $28.25 and a twelve month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. On average, research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a $0.09 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.17%. Zurn Elkay Water Solutions's dividend payout ratio is currently 39.13%.

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.