New York State Teachers Retirement System Buys New Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

New York State Teachers Retirement System bought a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,600 shares of the company's stock, valued at approximately $1,172,000.

Several other institutional investors and hedge funds have also made changes to their positions in ZWS. Sei Investments Co. grew its position in Zurn Elkay Water Solutions by 11.1% during the 2nd quarter. Sei Investments Co. now owns 211,183 shares of the company's stock worth $6,209,000 after purchasing an additional 21,081 shares during the last quarter. Hsbc Holdings PLC increased its position in Zurn Elkay Water Solutions by 209.9% in the 2nd quarter. Hsbc Holdings PLC now owns 82,640 shares of the company's stock valued at $2,411,000 after acquiring an additional 55,970 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Zurn Elkay Water Solutions in the 2nd quarter valued at about $431,000. AQR Capital Management LLC purchased a new stake in Zurn Elkay Water Solutions during the 2nd quarter valued at approximately $1,068,000. Finally, Epoch Investment Partners Inc. acquired a new stake in Zurn Elkay Water Solutions during the 1st quarter worth approximately $7,674,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, Director Timothy J. Jahnke sold 15,600 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.03, for a total transaction of $515,268.00. Following the transaction, the director now directly owns 385,017 shares in the company, valued at approximately $12,717,111.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Todd A. Adams sold 120,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 2,242,867 shares in the company, valued at $89,333,392.61. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 15,600 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.03, for a total transaction of $515,268.00. Following the sale, the director now directly owns 385,017 shares of the company's stock, valued at approximately $12,717,111.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 225,688 shares of company stock worth $8,400,151. Insiders own 3.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock traded down $0.02 during mid-day trading on Friday, reaching $39.17. The stock had a trading volume of 1,058,868 shares, compared to its average volume of 1,196,016. Zurn Elkay Water Solutions Co. has a 12-month low of $27.55 and a 12-month high of $40.64. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The business has a 50-day simple moving average of $35.33 and a 200 day simple moving average of $32.56. The company has a market cap of $6.65 billion, a P/E ratio of 49.58, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released 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 business had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same period in the prior year, the business earned $0.29 earnings per share. The company's quarterly revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. This is a positive change from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 40.51%.

Zurn Elkay Water Solutions Profile

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.