Verition Fund Management LLC Purchases 30,337 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Verition Fund Management LLC increased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 67.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,430 shares of the company's stock after buying an additional 30,337 shares during the quarter. Verition Fund Management LLC's holdings in Zurn Elkay Water Solutions were worth $2,711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its holdings in shares of Zurn Elkay Water Solutions by 7.8% during the 3rd quarter. Captrust Financial Advisors now owns 7,832 shares of the company's stock valued at $281,000 after purchasing an additional 570 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in Zurn Elkay Water Solutions during the 3rd quarter worth approximately $10,947,000. FMR LLC lifted its stake in Zurn Elkay Water Solutions by 11.2% in the third quarter. FMR LLC now owns 14,070 shares of the company's stock valued at $506,000 after buying an additional 1,416 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of Zurn Elkay Water Solutions in the third quarter valued at approximately $471,000. Finally, Citigroup Inc. increased its position in shares of Zurn Elkay Water Solutions by 159.2% during the third quarter. Citigroup Inc. now owns 253,943 shares of the company's stock worth $9,127,000 after acquiring an additional 155,982 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 4,070 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the transaction, the chief financial officer now owns 47,572 shares in the company, valued at approximately $1,862,443.80. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy J. Jahnke sold 15,600 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the sale, the director now owns 385,017 shares of the company's stock, valued at $12,717,111.51. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock valued at $8,400,151 in the last quarter. 3.80% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Stock Performance

ZWS stock traded down $0.79 during trading hours on Thursday, reaching $39.98. The stock had a trading volume of 251,979 shares, compared to its average volume of 1,097,873. The stock has a 50-day simple moving average of $37.77 and a 200 day simple moving average of $33.51. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.55 and a fifty-two week high of $40.84. The stock has a market capitalization of $6.79 billion, a PE ratio of 51.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. Zurn Elkay Water Solutions's revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. 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 firm 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. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. Zurn Elkay Water Solutions's dividend payout ratio is 45.57%.

Analyst Ratings Changes

ZWS has been the topic of several research reports. Stifel Nicolaus boosted their price objective 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. Oppenheimer upped their price objective on 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. 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 report on Thursday, October 31st. Finally, Robert W. Baird upped their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $38.17.

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.