Zurn Elkay Water Solutions Cor (NYSE:ZWS) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 46.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,579 shares of the company's stock after acquiring an additional 33,900 shares during the quarter. Edgestream Partners L.P. owned 0.06% of Zurn Elkay Water Solutions Cor worth $3,515,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. HM Payson & Co. purchased a new stake in Zurn Elkay Water Solutions Cor during the first quarter worth about $37,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth approximately $82,000. Central Pacific Bank Trust Division increased its stake in Zurn Elkay Water Solutions Cor by 31.0% in the 1st 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. Shelton Capital Management acquired a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth $209,000. Finally, Capstone Investment Advisors LLC acquired a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth $221,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ZWS. The Goldman Sachs Group dropped their target price on shares of Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Mizuho set a $36.00 price target on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Stifel Nicolaus upped their price target on shares of Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Robert W. Baird decreased their price target on shares of 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. Finally, BNP Paribas cut shares of Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.29.

Zurn Elkay Water Solutions Cor Trading Up 0.5%

ZWS traded up $0.20 during trading on Friday, hitting $37.53. 1,955,297 shares of the company's stock were exchanged, compared to its average volume of 1,080,994. 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 firm has a market cap of $6.31 billion, a P/E ratio of 37.91, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. The stock has a 50 day moving average price of $36.56 and a 200 day moving average price of $35.35. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $41.15.

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. Zurn Elkay Water Solutions Cor had a return on equity of 14.43% and a net margin of 10.72%. The company had revenue of $388.80 million for the quarter, compared to analysts' expectations of $383.87 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. As a group, analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the firm'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 completion of the sale, the vice president owned 94,132 shares of the company's stock, valued at approximately $3,500,769.08. This trade represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of Zurn Elkay Water Solutions Cor stock in a transaction 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 completion of the sale, the chief financial officer owned 60,772 shares of the company's stock, valued at approximately $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 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.