Castlekeep Investment Advisors LLC Buys Shares of 9,139 Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Castlekeep Investment Advisors LLC bought a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,139 shares of the company's stock, valued at approximately $341,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Zurn Elkay Water Solutions by 85.7% in the 3rd quarter. Barclays PLC now owns 304,731 shares of the company's stock valued at $10,952,000 after purchasing an additional 140,624 shares during the last quarter. Principal Financial Group Inc. grew its position 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 purchasing an additional 868,748 shares during the last quarter. Perpetual Ltd increased its stake 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. Crossmark Global Holdings Inc. acquired a new stake in Zurn Elkay Water Solutions during the 4th quarter worth approximately $556,000. Finally, Crescent Grove Advisors LLC boosted its stake in Zurn Elkay Water Solutions by 5.7% in the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company's stock valued at $90,842,000 after purchasing an additional 130,732 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Trading Up 0.1 %

NYSE ZWS traded up $0.04 on Friday, reaching $35.21. The company had a trading volume of 607,309 shares, compared to its average volume of 1,128,753. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 38.27, a P/E/G ratio of 2.01 and a beta of 1.02. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.74 and a fifty-two week high of $41.15. The business has a 50 day moving average of $32.54 and a two-hundred day moving average of $36.06. 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 posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $388.80 million during the quarter, compared to analyst estimates 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 posted $0.29 EPS. Analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date is Tuesday, May 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is currently 36.36%.

Analysts Set New Price Targets

Several research firms recently commented on ZWS. Stifel Nicolaus upped their price target 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. Robert W. Baird dropped 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 research report on Thursday, April 24th. The Goldman Sachs Group reduced 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 downgraded shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective on the stock. in a research note on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $36.43.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction that occurred 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 transaction, the chief financial officer now owns 59,410 shares of the company's stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 trade represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

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.