Raymond James Financial Inc. Takes $80.46 Million Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Raymond James Financial Inc. purchased a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,157,016 shares of the company's stock, valued at approximately $80,457,000. Raymond James Financial Inc. owned about 1.27% of Zurn Elkay Water Solutions as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. HighTower Advisors LLC increased its position in Zurn Elkay Water Solutions by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 8,092 shares of the company's stock valued at $293,000 after acquiring an additional 259 shares during the period. DAVENPORT & Co LLC increased its holdings in shares of Zurn Elkay Water Solutions by 3.2% in the 4th quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after purchasing an additional 269 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Zurn Elkay Water Solutions by 0.7% in the fourth quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock valued at $2,288,000 after purchasing an additional 389 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 4.8% during the 4th quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock valued at $352,000 after acquiring an additional 430 shares during the period. Finally, MML Investors Services LLC boosted its position in Zurn Elkay Water Solutions by 2.5% during the third quarter. MML Investors Services LLC now owns 18,077 shares of the company's stock worth $650,000 after purchasing an additional 449 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the business's stock in a transaction on Thursday, February 13th. The shares were 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 owns 15,002,819 shares in the company, valued at $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David J. Pauli sold 8,390 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of 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 disclosure for this sale can be found here. Company insiders own 3.80% of the company's stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $38.40.

Zurn Elkay Water Solutions Stock Down 1.3 %

NYSE ZWS traded down $0.41 during trading hours on Thursday, hitting $32.42. The company had a trading volume of 692,645 shares, compared to its average volume of 992,881. The firm's 50 day moving average is $36.73 and its 200 day moving average is $36.72. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 35.24, a P/E/G ratio of 2.01 and a beta of 1.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. Zurn Elkay Water Solutions Co. has a fifty-two week low of $28.25 and a fifty-two week high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions's 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.