Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,386,474 shares of the company's stock after purchasing an additional 12,558 shares during the period. Wells Fargo & Company MN owned about 1.41% of Zurn Elkay Water Solutions worth $89,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. ExodusPoint Capital Management LP acquired a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at approximately $486,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Zurn Elkay Water Solutions by 291.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 71,111 shares of the company's stock valued at $2,652,000 after purchasing an additional 52,964 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Zurn Elkay Water Solutions by 99.9% in the 4th quarter. HighPoint Advisor Group LLC now owns 275,545 shares of the company's stock valued at $10,190,000 after purchasing an additional 137,683 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 180.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 17,777 shares of the company's stock worth $663,000 after purchasing an additional 11,428 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Zurn Elkay Water Solutions by 20.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 21,820 shares of the company's stock worth $814,000 after purchasing an additional 3,697 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

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Zurn Elkay Water Solutions Stock Performance

ZWS traded up $0.21 during trading on Friday, hitting $29.40. 1,270,145 shares of the stock were exchanged, compared to its average volume of 1,113,952. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1-year low of $27.74 and a 1-year high of $41.15. The stock has a fifty day moving average price of $33.82 and a two-hundred day moving average price of $36.58. The firm has a market capitalization of $4.96 billion, a P/E ratio of 31.95, a PEG ratio of 2.01 and a beta of 1.08.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. As a group, sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.22%. Zurn Elkay Water Solutions's payout ratio is 39.13%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZWS. The Goldman Sachs Group decreased their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. BNP Paribas cut Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 target price for the company. in a research note on Wednesday. Finally, Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $36.43.

Insider Transactions at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of the company's stock in a transaction on Friday, February 14th. The shares were 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. This represents a 12.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction dated 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 directly owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions 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.