9,139 Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS) Acquired by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC bought a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,139 shares of the company's stock, valued at approximately $341,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZWS. Invesco Ltd. grew its position in Zurn Elkay Water Solutions by 26.8% in the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock worth $219,335,000 after purchasing an additional 1,242,642 shares in the last quarter. Janus Henderson Group PLC grew its position in Zurn Elkay Water Solutions by 6.5% in the 4th quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company's stock worth $149,444,000 after purchasing an additional 245,258 shares in the last quarter. First Trust Advisors LP grew its position in Zurn Elkay Water Solutions by 184.0% in the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock worth $132,661,000 after purchasing an additional 2,304,285 shares in the last quarter. Beck Mack & Oliver LLC grew its position in Zurn Elkay Water Solutions by 0.5% in the 4th quarter. Beck Mack & Oliver LLC now owns 3,485,566 shares of the company's stock worth $130,012,000 after purchasing an additional 17,090 shares in the last quarter. Finally, Crescent Grove Advisors LLC grew its position 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 worth $90,842,000 after purchasing an additional 130,732 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Stock Performance

ZWS traded down $0.38 during midday trading on Friday, reaching $36.11. The company had a trading volume of 141,272 shares, compared to its average volume of 1,121,505. 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 stock has a market cap of $6.08 billion, a PE ratio of 39.23, a P/E/G ratio of 2.01 and a beta of 1.02. Zurn Elkay Water Solutions Co. has a 12-month low of $27.74 and a 12-month high of $41.15. The business has a 50-day moving average price of $33.35 and a two-hundred day moving average price of $35.99.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.02. The company had revenue of $388.80 million for the quarter, compared to analysts' expectations of $383.87 million. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. During the same period in the prior year, the company posted $0.29 EPS. On average, sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Tuesday, May 20th. Zurn Elkay Water Solutions's payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZWS. Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. 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. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions in a research report on Friday, May 16th. BNP Paribas cut shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 target price on the stock. in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group dropped their target price on shares of 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of "Hold" and an average target price of $36.29.

Insider Activity at Zurn Elkay Water Solutions

In related news, VP Sudhanshu Chhabra sold 25,921 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $37.19, for a total transaction of $964,001.99. Following the sale, the vice president now owns 94,132 shares of the company's stock, valued at approximately $3,500,769.08. This represents a 21.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the company'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 in the company, valued at $2,255,248.92. This trade represents a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

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.