Deutsche Bank AG Increases Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Deutsche Bank AG lifted its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,150 shares of the company's stock after acquiring an additional 16,892 shares during the quarter. Deutsche Bank AG owned 0.10% of Zurn Elkay Water Solutions worth $6,160,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Robert W. Baird reduced their target price on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. BNP Paribas cut shares of 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. Stifel Nicolaus lifted 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. Finally, Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions in a research report on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions has a consensus rating of "Hold" and a consensus 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 firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the completion of the transaction, the chief financial officer now owns 60,772 shares of the company's stock, valued at $2,255,248.92. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sudhanshu Chhabra sold 25,921 shares of the company's stock in a transaction 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 completion of the sale, the vice president now directly owns 94,132 shares in the company, valued at approximately $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 owned by insiders.

Zurn Elkay Water Solutions Stock Down 2.8%

Shares of ZWS stock traded down $1.05 during trading hours on Wednesday, reaching $35.96. 449,892 shares of the company's stock were exchanged, compared to its average volume of 1,127,798. 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. The stock has a market cap of $6.05 billion, a PE ratio of 39.09, a PEG ratio of 2.01 and a beta of 1.02. The stock's fifty day moving average price is $33.01 and its two-hundred day moving average price is $36.11.

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 analysts' consensus estimates of $0.29 by $0.02. The company had revenue of $388.80 million during the quarter, compared to analyst estimates of $383.87 million. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. During the same quarter last year, the business posted $0.29 EPS. Research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be issued 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 dividend payout ratio (DPR) is 36.36%.

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.