Ameriprise Financial Inc. Grows Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Ameriprise Financial Inc. boosted its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 58.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 985,576 shares of the company's stock after acquiring an additional 364,142 shares during the period. Ameriprise Financial Inc. owned 0.58% of Zurn Elkay Water Solutions worth $36,762,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ZWS. GAMMA Investing LLC raised 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 during the period. Atala Financial Inc bought a new position in shares of Zurn Elkay Water Solutions during the 4th quarter worth $44,000. Tsfg LLC bought a new position in shares of Zurn Elkay Water Solutions during the 4th quarter worth $56,000. Tortoise Investment Management LLC grew its stake in shares of 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 worth $65,000 after acquiring an additional 755 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new position in Zurn Elkay Water Solutions in the 4th quarter worth about $82,000. 83.33% of the stock is currently owned by institutional investors.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 25,921 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.19, for a total value of $964,001.99. Following the sale, the vice president now directly owns 94,132 shares in the company, valued at $3,500,769.08. This trade represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total value of $100,419.66. Following the transaction, the chief financial officer now directly owns 60,772 shares in the company, valued at approximately $2,255,248.92. The trade was a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Stock Up 1.6%

Shares of NYSE:ZWS traded up $0.61 on Friday, reaching $37.61. The company had a trading volume of 704,835 shares, compared to its average volume of 1,133,079. Zurn Elkay Water Solutions Co. has a 52-week low of $27.74 and a 52-week high of $41.15. The firm's 50 day simple moving average is $32.83 and its 200-day simple moving average is $36.10. The firm has a market capitalization of $6.33 billion, a PE ratio of 40.88, a PEG ratio of 2.01 and a beta of 1.02. 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 (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. The company had revenue of $388.80 million during the quarter, compared to analysts' expectations of $383.87 million. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. During the same quarter in the previous year, the firm posted $0.29 EPS. As a group, analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, May 20th. Zurn Elkay Water Solutions's dividend payout ratio is presently 36.36%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Robert W. Baird lowered their price target on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, BNP Paribas lowered Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price target on the stock. in a research report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of "Hold" and an average target price of $36.43.

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.