Public Sector Pension Investment Board Invests $10.95 Million in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Public Sector Pension Investment Board purchased a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 304,600 shares of the company's stock, valued at approximately $10,947,000. Public Sector Pension Investment Board owned 0.18% of Zurn Elkay Water Solutions at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sei Investments Co. increased its position in Zurn Elkay Water Solutions by 11.1% in the second quarter. Sei Investments Co. now owns 211,183 shares of the company's stock worth $6,209,000 after buying an additional 21,081 shares during the period. Global Alpha Capital Management Ltd. increased its holdings in shares of Zurn Elkay Water Solutions by 23.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company's stock worth $3,323,000 after acquiring an additional 17,350 shares during the period. Hsbc Holdings PLC lifted 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 purchasing an additional 55,970 shares during the last quarter. Impax Asset Management Group plc boosted its stake in Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company's stock valued at $315,645,000 after purchasing an additional 346,412 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new position in Zurn Elkay Water Solutions in the 2nd quarter worth about $431,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS traded up $0.14 during mid-day trading on Friday, hitting $39.82. The company's stock had a trading volume of 429,089 shares, compared to its average volume of 1,104,455. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The firm has a 50-day moving average price of $37.41 and a 200 day moving average price of $33.33. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.55 and a fifty-two week high of $40.64. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 2.01 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The company 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 quarter in the prior year, the firm earned $0.29 EPS. On average, research analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. 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 currently 45.57%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Timothy J. Jahnke sold 15,600 shares of the company's stock in a transaction 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 transaction, the director now directly owns 385,017 shares of the company's stock, valued at approximately $12,717,111.51. The trade was a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now owns 2,242,867 shares of the company's stock, valued at $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. 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. Company insiders own 3.80% of the company's stock.

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.