Candriam S.C.A. Purchases 12,703 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Candriam S.C.A. raised its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,548 shares of the company's stock after purchasing an additional 12,703 shares during the period. Candriam S.C.A. owned 0.07% of Zurn Elkay Water Solutions worth $4,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ZWS. New York State Teachers Retirement System purchased a new position in Zurn Elkay Water Solutions during the third quarter valued at approximately $1,172,000. Janney Montgomery Scott LLC boosted its holdings in Zurn Elkay Water Solutions by 0.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 209,209 shares of the company's stock valued at $7,519,000 after purchasing an additional 700 shares during the period. Impax Asset Management Group plc grew its position in shares of 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 in the last quarter. Amalgamated Bank increased its holdings in shares of Zurn Elkay Water Solutions by 714.9% in the third quarter. Amalgamated Bank now owns 42,368 shares of the company's stock worth $1,523,000 after purchasing an additional 37,169 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock worth $94,161,000 after buying an additional 868,748 shares in the last quarter. Institutional investors own 83.33% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped their target price 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 three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.67.

Insiders Place Their Bets

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now directly owns 15,002,819 shares in the company, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the business'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 sale, the chief financial officer now directly owns 59,410 shares in the company, valued at $2,107,272.70. The trade was a 12.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.80% of the company's stock.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS traded down $0.37 during midday trading on Wednesday, reaching $32.79. The stock had a trading volume of 1,196,827 shares, compared to its average volume of 995,815. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16. The company's 50-day moving average is $36.82 and its 200 day moving average is $36.74. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions's payout ratio is 39.13%.

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.