State Street Corp Has $195.59 Million Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

State Street Corp lifted its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 63.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,441,980 shares of the company's stock after purchasing an additional 2,119,777 shares during the quarter. State Street Corp owned approximately 3.21% of Zurn Elkay Water Solutions worth $195,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tortoise Investment Management LLC boosted its position in Zurn Elkay Water Solutions by 76.7% during the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company's stock worth $25,000 after purchasing an additional 373 shares during the period. Quarry LP raised its holdings in Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company's stock worth $25,000 after acquiring an additional 536 shares during the period. International Assets Investment Management LLC acquired a new position in Zurn Elkay Water Solutions during the 2nd quarter worth $29,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions during the 3rd quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Zurn Elkay Water Solutions by 732.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company's stock valued at $42,000 after purchasing an additional 1,267 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Zurn Elkay Water Solutions Trading Down 0.6 %

Shares of NYSE ZWS traded down $0.24 during mid-day trading on Friday, hitting $39.77. The company's stock had a trading volume of 535,162 shares, compared to its average volume of 1,091,437. 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 stock has a market cap of $6.75 billion, a price-to-earnings ratio of 50.34, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14. The company's fifty day simple moving average is $38.38 and its 200-day simple moving average is $33.89. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $41.15.

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, topping analysts' consensus estimates of $0.32 by $0.02. The firm had revenue of $410.00 million during 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 quarter in the previous year, the business earned $0.29 EPS. On average, sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were paid a $0.09 dividend. The ex-dividend date was Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. Zurn Elkay Water Solutions's dividend payout ratio is 45.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ZWS shares. Robert W. Baird raised their price objective on shares of 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. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a "hold" rating in a research note on Wednesday. Mizuho upped their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Oppenheimer raised their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of "Hold" and an average price target of $38.50.

Insiders Place Their Bets

In related 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 value of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares of the company's stock, valued at approximately $89,333,392.61. This represents a 5.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeffrey J. Lavalle sold 3,132 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the sale, the vice president now directly owns 35,422 shares in the company, valued at $1,386,771.30. This represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,237 shares of company stock worth $6,164,583. 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.