Cambridge Investment Research Advisors Inc. Buys New Shares in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Cambridge Investment Research Advisors Inc. bought a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,044 shares of the company's stock, valued at approximately $265,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atala Financial Inc purchased a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at $44,000. Caisse Des Depots ET Consignations purchased a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at $82,000. Central Pacific Bank Trust Division lifted its position in Zurn Elkay Water Solutions Cor by 31.0% during the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after purchasing an additional 1,040 shares in the last quarter. Carret Asset Management LLC purchased a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at $205,000. Finally, Shelton Capital Management purchased a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at $209,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZWS has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group decreased their price target on Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Robert W. Baird decreased their price target on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. BNP Paribas cut Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 price target on the stock. in a report on Wednesday, April 9th. Finally, Mizuho set a $36.00 price target on Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.29.

Zurn Elkay Water Solutions Cor Trading Down 1.0%

Shares of ZWS stock opened at $37.79 on Friday. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 38.17, a price-to-earnings-growth ratio of 2.35 and a beta of 0.99. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $41.15. The company has a current ratio of 2.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $36.37 and its 200-day moving average price is $35.36.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. The company had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Tuesday, May 20th. Zurn Elkay Water Solutions Cor's payout ratio is 36.36%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

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

Zurn Elkay Water Solutions Cor 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.

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