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

Bridgefront Capital LLC acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 9,358 shares of the company's stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. DAVENPORT & Co LLC raised its holdings in shares of Zurn Elkay Water Solutions by 3.2% in the fourth quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after purchasing an additional 269 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in Zurn Elkay Water Solutions by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock valued at $205,000 after purchasing an additional 344 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 0.7% in the 4th quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock valued at $2,288,000 after buying an additional 389 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Zurn Elkay Water Solutions by 4.8% during the fourth quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock worth $352,000 after buying an additional 430 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in shares of Zurn Elkay Water Solutions by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company's stock valued at $562,000 after acquiring an additional 477 shares during the period. Institutional investors and hedge funds own 83.33% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

NYSE:ZWS traded up $0.04 during mid-day trading on Friday, hitting $35.21. 607,309 shares of the stock were exchanged, compared to its average volume of 1,128,753. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The firm's 50-day simple moving average is $32.54 and its 200 day simple moving average is $36.06. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.74 and a fifty-two week high of $41.15. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 38.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.02.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its earnings results 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. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. The company had revenue of $388.80 million during the quarter, compared to analysts' expectations of $383.87 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. As a group, equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.02%. Zurn Elkay Water Solutions's dividend payout ratio is presently 36.36%.

Insider Activity

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction 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 sale, the insider now directly owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the business's stock in a transaction dated 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 directly owns 59,410 shares of the company's stock, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating 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 note on Wednesday, April 9th. 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 note on Wednesday, April 2nd. Finally, Robert W. Baird reduced their price objective on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.