Brevan Howard Capital Management LP Takes Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Brevan Howard Capital Management LP purchased 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 SEC. The institutional investor purchased 30,524 shares of the company's stock, valued at approximately $1,139,000.

A number of other institutional investors also recently modified their holdings of the stock. Bridgefront Capital LLC bought a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth $349,000. Capstone Investment Advisors LLC bought a new position in Zurn Elkay Water Solutions in the fourth quarter valued at approximately $221,000. Captrust Financial Advisors raised its position in shares of Zurn Elkay Water Solutions by 11.8% during the 4th quarter. Captrust Financial Advisors now owns 8,755 shares of the company's stock valued at $327,000 after acquiring an additional 923 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at $341,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $4,903,000. 83.33% of the stock is owned by institutional investors.

Insider Transactions at Zurn Elkay Water Solutions

In related news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The stock was 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 of the company's stock, valued at approximately $504,094,718.40. This trade represents a 37.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now 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. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BNP Paribas cut Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a research note on Wednesday, April 9th. Robert W. Baird lowered their price target on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus boosted 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. Finally, 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 for the company in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $36.43.

Zurn Elkay Water Solutions Stock Up 1.0%

ZWS stock traded up $0.36 during trading hours on Tuesday, reaching $37.56. 137,759 shares of the stock were exchanged, compared to its average volume of 1,125,330. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 2.01 and a beta of 1.02. Zurn Elkay Water Solutions Co. has a 12 month low of $27.74 and a 12 month high of $41.15. The firm's 50-day moving average is $32.60 and its 200-day moving average is $36.07. 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 released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating 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 period last year, the firm posted $0.29 earnings per share. On average, equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

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

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.