Jefferies Financial Group Inc. Buys New Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Jefferies Financial Group Inc. purchased a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 61,722 shares of the company's stock, valued at approximately $2,302,000.

A number of other institutional investors also recently modified their holdings of the company. Atala Financial Inc acquired a new position in shares of Zurn Elkay Water Solutions in the fourth quarter valued at approximately $44,000. Tortoise Investment Management LLC boosted its position in shares of Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock worth $65,000 after purchasing an additional 755 shares in the last quarter. Caisse Des Depots ET Consignations bought a new position in Zurn Elkay Water Solutions in the 4th quarter valued at about $82,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Zurn Elkay Water Solutions by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock worth $205,000 after buying an additional 344 shares in the last quarter. Finally, Carret Asset Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $205,000. 83.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ZWS. The Goldman Sachs Group lowered their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Robert W. Baird dropped 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 note on Thursday, April 24th. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions in a report on Friday, May 16th. 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 report on Wednesday, April 9th. Finally, Stifel Nicolaus boosted 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of "Hold" and an average price target of $36.29.

Insider Activity at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 2,706 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total value of $100,419.66. Following the completion of the sale, the chief financial officer now directly owns 60,772 shares in the company, valued at $2,255,248.92. The trade was a 4.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Sudhanshu Chhabra sold 25,921 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.19, for a total value of $964,001.99. Following the transaction, the vice president now directly owns 94,132 shares of the company's stock, valued at $3,500,769.08. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Price Performance

NYSE:ZWS traded down $0.29 during mid-day trading on Friday, reaching $36.20. 822,897 shares of the stock were exchanged, compared to its average volume of 1,125,866. The business has a fifty day moving average price of $33.39 and a 200 day moving average price of $35.93. The firm has a market capitalization of $6.09 billion, a PE ratio of 39.35, a PEG ratio of 2.01 and a beta of 1.02. Zurn Elkay Water Solutions Co. has a 1-year low of $27.74 and a 1-year high of $41.15. 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 (NYSE:ZWS - Get Free Report) last posted its earnings results 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. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. The firm had revenue of $388.80 million during the quarter, compared to analyst estimates of $383.87 million. During the same period in the previous year, the company earned $0.29 EPS. Research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, May 20th. Zurn Elkay Water Solutions's dividend payout ratio is 36.36%.

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.