Invesco Ltd. Increases Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Invesco Ltd. boosted its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,880,302 shares of the company's stock after purchasing an additional 1,242,642 shares during the quarter. Invesco Ltd. owned approximately 3.46% of Zurn Elkay Water Solutions worth $219,335,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ZWS. GAMMA Investing LLC increased its position in shares of Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company's stock worth $35,000 after purchasing an additional 544 shares in the last quarter. Atala Financial Inc purchased a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth about $44,000. Tsfg LLC purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter worth approximately $56,000. Tortoise Investment Management LLC increased its stake in Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock valued at $65,000 after purchasing an additional 755 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $82,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective 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. BNP Paribas lowered shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price target for the company. in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of "Hold" and an average price target of $36.43.

Zurn Elkay Water Solutions Trading Down 0.1 %

Shares of Zurn Elkay Water Solutions stock traded down $0.03 on Tuesday, hitting $29.44. 854,846 shares of the company's stock traded hands, compared to its average volume of 1,111,666. The stock has a market capitalization of $4.97 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. Zurn Elkay Water Solutions Co. has a one year low of $27.74 and a one year high of $41.15. The firm's 50-day moving average price is $33.65 and its two-hundred day moving average price is $36.54. 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 (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company 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 1.22%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions's payout ratio is 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.