Edgestream Partners L.P. Purchases 33,900 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Edgestream Partners L.P. lifted its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 46.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,579 shares of the company's stock after purchasing an additional 33,900 shares during the period. Edgestream Partners L.P. owned about 0.06% of Zurn Elkay Water Solutions Cor worth $3,515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZWS. HighTower Advisors LLC grew its position in Zurn Elkay Water Solutions Cor by 9.2% in the 4th quarter. HighTower Advisors LLC now owns 8,834 shares of the company's stock valued at $329,000 after buying an additional 742 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 60.5% in 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 in the last quarter. Corient Private Wealth LLC increased its holdings in Zurn Elkay Water Solutions Cor by 6.7% in the fourth quarter. Corient Private Wealth LLC now owns 13,903 shares of the company's stock worth $519,000 after buying an additional 876 shares during the last quarter. Cibc World Markets Corp acquired a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $503,000. Finally, Xponance Inc. boosted its position in shares of Zurn Elkay Water Solutions Cor by 22.8% in the fourth quarter. Xponance Inc. now owns 11,547 shares of the company's stock valued at $431,000 after acquiring an additional 2,146 shares during the period. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Trading Up 0.5%

Shares of ZWS stock traded up $0.20 on Friday, hitting $37.53. The company had a trading volume of 1,955,297 shares, compared to its average volume of 1,083,390. The stock's 50-day moving average is $36.61 and its two-hundred day moving average is $35.34. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $41.15. The firm has a market cap of $6.31 billion, a P/E ratio of 37.91, a P/E/G ratio of 2.33 and a beta of 0.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.87.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly 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 Cor had a return on equity of 14.43% and a net margin of 10.72%. The business had revenue of $388.80 million for the quarter, compared to analyst estimates of $383.87 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

Wall Street Analyst Weigh In

ZWS has been the subject of a number of analyst reports. Robert W. Baird cut their price objective on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group cut their price objective on Zurn Elkay Water Solutions Cor 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 target price on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. BNP Paribas lowered 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 report on Wednesday, April 9th. Finally, Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, April 24th. 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, Zurn Elkay Water Solutions Cor currently has an average rating of "Hold" and an average target price of $36.29.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 25,921 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Monday, May 12th. The stock was 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 $3,500,769.08. The trade was a 21.59% 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, CFO David J. Pauli sold 2,706 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total value of $100,419.66. Following the completion of the sale, the chief financial officer directly 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 owned by insiders.

Zurn Elkay Water Solutions Cor 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.