CenterBook Partners LP Acquires Shares of 19,571 Zurn Elkay Water Solutions Cor (NYSE:ZWS)

CenterBook Partners LP 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 disclosure with the Securities and Exchange Commission. The institutional investor bought 19,571 shares of the company's stock, valued at approximately $645,000.

Several other institutional investors also recently bought and sold shares of ZWS. Cambridge Investment Research Advisors Inc. acquired a new position in Zurn Elkay Water Solutions Cor during the first quarter worth $265,000. GAMMA Investing LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 3,250.8% in the 1st quarter. GAMMA Investing LLC now owns 31,397 shares of the company's stock valued at $952,000 after buying an additional 30,460 shares during the period. HighTower Advisors LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 9.2% during the 4th quarter. HighTower Advisors LLC now owns 8,834 shares of the company's stock worth $329,000 after buying an additional 742 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 60.5% during the fourth quarter. Natixis Advisors LLC now owns 21,267 shares of the company's stock worth $793,000 after purchasing an additional 8,017 shares during the period. Finally, Perpetual Ltd raised its position in Zurn Elkay Water Solutions Cor by 23.4% during the first quarter. Perpetual Ltd now owns 264,396 shares of the company's stock valued at $8,720,000 after buying an additional 50,207 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ZWS shares. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions Cor from $39.00 to $43.00 and gave the company a "buy" rating in a research report on Monday. The Goldman Sachs Group cut their target price on Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. BNP Paribas downgraded Zurn Elkay Water Solutions Cor 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. Mizuho set a $36.00 target price on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Finally, Robert W. Baird decreased their target price on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $36.86.

Insiders Place Their Bets

In other news, CFO David J. Pauli sold 2,706 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred 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 transaction, the chief financial officer owned 60,772 shares in the company, valued at approximately $2,255,248.92. The trade was a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 25,921 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $37.19, for a total value of $964,001.99. Following the sale, the vice president owned 94,132 shares in the company, 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. Corporate insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS traded up $0.03 during trading hours on Monday, hitting $37.58. 267,773 shares of the company traded hands, compared to its average volume of 1,080,221. The firm has a 50-day moving average of $36.61 and a 200 day moving average of $35.33. The company has a current ratio of 2.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $41.15. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 2.32 and a beta of 0.99.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.02. The company had revenue of $388.80 million during the quarter, compared to analysts' expectations 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 business posted $0.29 earnings per share. On average, analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is presently 36.36%.

About Zurn Elkay Water Solutions Cor

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.