Impax Asset Management Group plc Buys 346,412 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Impax Asset Management Group plc raised its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 4.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,801,275 shares of the company's stock after purchasing an additional 346,412 shares during the quarter. Zurn Elkay Water Solutions accounts for about 1.2% of Impax Asset Management Group plc's investment portfolio, making the stock its 24th biggest holding. Impax Asset Management Group plc owned 5.15% of Zurn Elkay Water Solutions worth $315,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Zurn Elkay Water Solutions by 2.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company's stock worth $386,286,000 after acquiring an additional 265,857 shares during the period. Principal Financial Group Inc. raised its stake in shares of Zurn Elkay Water Solutions by 24.1% in the second quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company's stock worth $51,485,000 after buying an additional 339,892 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company's stock valued at $49,846,000 after buying an additional 465,701 shares in the last quarter. Raymond James & Associates grew its stake in shares of Zurn Elkay Water Solutions by 4.5% during the 3rd quarter. Raymond James & Associates now owns 1,433,580 shares of the company's stock valued at $51,523,000 after acquiring an additional 61,748 shares during the period. Finally, Jennison Associates LLC increased its holdings in Zurn Elkay Water Solutions by 68.6% in the 1st quarter. Jennison Associates LLC now owns 1,275,293 shares of the company's stock worth $42,684,000 after acquiring an additional 518,733 shares in the last quarter. Institutional investors own 83.33% of the company's stock.

Insider Buying and Selling

In other news, Director Timothy J. Jahnke sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the sale, the director now directly owns 345,017 shares of the company's stock, valued at $12,969,189.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now owns 345,017 shares in the company, valued at approximately $12,969,189.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the transaction, the vice president now directly owns 80,151 shares of the company's stock, valued at $2,608,915.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,486 shares of company stock worth $3,338,593. Corporate insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Mizuho lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Robert W. Baird lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Oppenheimer boosted their price objective on 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. Finally, Stifel Nicolaus upped their price objective 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $38.17.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE:ZWS traded up $1.33 during mid-day trading on Tuesday, reaching $38.48. The stock had a trading volume of 1,308,601 shares, compared to its average volume of 1,120,147. The company has a market cap of $6.53 billion, a P/E ratio of 48.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. The business's 50 day moving average price is $34.89 and its 200 day moving average price is $32.41. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1 year low of $27.55 and a 1 year high of $38.80.

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

Zurn Elkay Water Solutions Increases Dividend

The firm also recently announced 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. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. This is a boost from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions's dividend payout ratio is currently 40.51%.

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.