Castlekeep Investment Advisors LLC Takes $341,000 Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Castlekeep Investment Advisors LLC bought a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,139 shares of the company's stock, valued at approximately $341,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ZWS. First Trust Advisors LP lifted its position in Zurn Elkay Water Solutions by 184.0% during the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Zurn Elkay Water Solutions during the fourth quarter valued at about $80,457,000. Norges Bank bought a new stake in Zurn Elkay Water Solutions during the fourth quarter valued at about $61,412,000. Invesco Ltd. raised its holdings in Zurn Elkay Water Solutions by 26.8% during the fourth quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock valued at $219,335,000 after acquiring an additional 1,242,642 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Zurn Elkay Water Solutions by 58.6% during the fourth quarter. Ameriprise Financial Inc. now owns 985,576 shares of the company's stock valued at $36,762,000 after acquiring an additional 364,142 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock traded down $0.72 during trading hours on Wednesday, hitting $36.20. The stock had a trading volume of 523,532 shares, compared to its average volume of 1,127,210. Zurn Elkay Water Solutions Co. has a one year low of $27.74 and a one year high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The stock's 50-day moving average price is $33.25 and its two-hundred day moving average price is $36.01. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 39.34, a PEG ratio of 2.01 and a beta of 1.02.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $383.87 million. During the same period in the previous year, the firm posted $0.29 earnings per share. Equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

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

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 2,706 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total transaction of $100,419.66. Following the sale, the chief financial officer now directly owns 60,772 shares of the company's stock, valued at $2,255,248.92. The trade was a 4.26% decrease in their ownership of the stock. The sale 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 business's stock in a transaction that occurred 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 sale, the vice president now directly owns 94,132 shares in the company, valued at $3,500,769.08. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ZWS. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Robert W. Baird decreased their price target on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group decreased their price target on 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. Mizuho set a $36.00 price target on Zurn Elkay Water Solutions in a report on Friday, May 16th. Finally, BNP Paribas cut Zurn Elkay Water Solutions 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of "Hold" and a consensus target price of $36.29.

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.