Principal Financial Group Inc. Has $94.16 Million Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Principal Financial Group Inc. boosted its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 49.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,619,953 shares of the company's stock after acquiring an additional 868,748 shares during the quarter. Principal Financial Group Inc. owned 1.53% of Zurn Elkay Water Solutions worth $94,161,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ZWS. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 12.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,786 shares of the company's stock valued at $696,000 after purchasing an additional 2,375 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Zurn Elkay Water Solutions in the first quarter valued at approximately $285,000. Qsemble Capital Management LP bought a new position in shares of Zurn Elkay Water Solutions during the 1st quarter worth approximately $379,000. Global Alpha Capital Management Ltd. increased its holdings in shares of Zurn Elkay Water Solutions by 12.6% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 57,900 shares of the company's stock worth $1,938,000 after acquiring an additional 6,500 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Zurn Elkay Water Solutions by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 26,606 shares of the company's stock valued at $891,000 after acquiring an additional 2,095 shares during the period. Institutional investors and hedge funds own 83.33% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded down $0.02 during mid-day trading on Friday, hitting $39.17. 1,058,868 shares of the company's stock were exchanged, compared to its average volume of 1,126,059. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 52 week low of $27.55 and a 52 week high of $40.64. The stock's 50-day simple moving average is $35.33 and its 200-day simple moving average is $32.56. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 49.58, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its 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. The firm had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS. On average, equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently disclosed 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. This is an increase from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions's dividend payout ratio is currently 40.51%.

Insider Activity at Zurn Elkay Water Solutions

In other news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,242,867 shares of the company's stock, valued at approximately $89,333,392.61. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Todd A. Adams sold 120,000 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David J. Pauli sold 4,070 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $159,340.50. Following the sale, the chief financial officer now directly owns 47,572 shares in the company, valued at approximately $1,862,443.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,688 shares of company stock valued at $8,400,151 over the last ninety days. 3.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted 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 research report on Wednesday, October 16th. Mizuho upped 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 research note on Thursday, October 31st. Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Robert W. Baird boosted 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. Finally, Deutsche Bank Aktiengesellschaft increased their target price 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $38.17.

Zurn Elkay Water Solutions Company 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.