Aquatic Capital Management LLC Acquires Shares of 17,595 Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Aquatic Capital Management LLC acquired a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,595 shares of the company's stock, valued at approximately $656,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZWS. Barclays PLC boosted its position in Zurn Elkay Water Solutions by 85.7% during the third quarter. Barclays PLC now owns 304,731 shares of the company's stock worth $10,952,000 after purchasing an additional 140,624 shares during the period. Principal Financial Group Inc. raised its stake in Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock worth $94,161,000 after purchasing an additional 868,748 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Zurn Elkay Water Solutions by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company's stock valued at $58,077,000 after acquiring an additional 329,563 shares during the period. Perpetual Ltd lifted its holdings in shares of Zurn Elkay Water Solutions by 8.4% during the fourth quarter. Perpetual Ltd now owns 214,189 shares of the company's stock worth $7,989,000 after purchasing an additional 16,520 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in Zurn Elkay Water Solutions during the fourth quarter worth $556,000. Institutional investors and hedge funds own 83.33% of the company's stock.

Wall Street Analyst Weigh In

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

Zurn Elkay Water Solutions Price Performance

ZWS traded up $0.02 during trading on Wednesday, reaching $34.30. The stock had a trading volume of 52,933 shares, compared to its average volume of 1,119,256. Zurn Elkay Water Solutions Co. has a one year low of $27.74 and a one year high of $41.15. The stock has a market cap of $5.77 billion, a PE ratio of 37.23, a PEG ratio of 2.01 and a beta of 1.02. The business has a 50-day moving average of $32.53 and a 200-day moving average of $36.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $388.80 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.29 earnings per share. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.05%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 36.36%.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm's stock in a transaction 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 transaction, the insider now owns 15,002,819 shares in the company, 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. 2.60% of the stock is currently owned by insiders.

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.