Bridgefront Capital LLC Makes New $349,000 Investment in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Bridgefront Capital LLC acquired a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,358 shares of the company's stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZWS. First Trust Advisors LP boosted its holdings in Zurn Elkay Water Solutions by 184.0% in the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock valued at $132,661,000 after purchasing an additional 2,304,285 shares during the period. Raymond James Financial Inc. bought a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at $80,457,000. Norges Bank acquired a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth about $61,412,000. Invesco Ltd. boosted its holdings in shares of Zurn Elkay Water Solutions by 26.8% in the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock worth $219,335,000 after acquiring an additional 1,242,642 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock valued at $94,161,000 after buying an additional 868,748 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. BNP Paribas downgraded 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. Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group cut 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Zurn Elkay Water Solutions currently has an average rating of "Hold" and a consensus price target of $36.43.

Zurn Elkay Water Solutions Trading Up 1.0%

Shares of NYSE:ZWS traded up $0.36 during mid-day trading on Tuesday, reaching $37.56. The stock had a trading volume of 137,759 shares, compared to its average volume of 1,065,005. The firm has a market cap of $6.32 billion, a PE ratio of 40.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.02. The firm has a 50 day simple moving average of $32.60 and a two-hundred day simple moving average of $36.07. 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 Co. has a twelve month low of $27.74 and a twelve month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. The business had revenue of $388.80 million during the quarter, compared to analysts' expectations of $383.87 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. On average, research analysts predict 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 declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is currently 36.36%.

Insiders Place Their Bets

In related news, CFO David J. Pauli sold 8,390 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were 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 owns 59,410 shares of the company's stock, valued at $2,107,272.70. This represents a 12.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now directly owns 15,002,819 shares of the company's stock, 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. Company 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.