Kingsview Wealth Management LLC Purchases Shares of 96,114 Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Kingsview Wealth Management LLC bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 96,114 shares of the company's stock, valued at approximately $3,170,000. Kingsview Wealth Management LLC owned 0.06% of Zurn Elkay Water Solutions Cor as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in 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 lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 3,250.8% during the 1st quarter. GAMMA Investing LLC now owns 31,397 shares of the company's stock valued at $952,000 after purchasing an additional 30,460 shares in the last quarter. HighTower Advisors LLC lifted its stake 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 acquiring an additional 742 shares in the last quarter. Natixis Advisors LLC lifted its stake in Zurn Elkay Water Solutions Cor by 60.5% in the 4th quarter. Natixis Advisors LLC now owns 21,267 shares of the company's stock valued at $793,000 after acquiring an additional 8,017 shares in the last quarter. Finally, Perpetual Ltd increased its position in shares of Zurn Elkay Water Solutions Cor by 23.4% during the 1st quarter. Perpetual Ltd now owns 264,396 shares of the company's stock worth $8,720,000 after purchasing an additional 50,207 shares during the last quarter. Institutional investors own 83.33% of the company's stock.

Wall Street Analyst Weigh In

ZWS has been the subject of several recent analyst reports. BNP Paribas downgraded 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 report on Wednesday, April 9th. Robert W. Baird dropped their price target on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Mizuho set a $36.00 price target on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. The Goldman Sachs Group reduced their price objective on Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the company a "buy" rating 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 data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $36.29.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock traded up $0.20 during trading on Friday, reaching $37.53. The company had a trading volume of 1,955,297 shares, compared to its average volume of 1,083,390. 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's 50-day simple moving average is $36.61 and its 200 day simple moving average is $35.36. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 37.91, a price-to-earnings-growth ratio of 2.33 and a beta of 0.99. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $41.15.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 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 company had revenue of $388.80 million during the quarter, compared to analyst estimates of $383.87 million. During the same quarter last year, the business posted $0.29 earnings per share. Sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Insider Buying and Selling

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.19, for a total transaction of $964,001.99. Following the transaction, the vice president directly owned 94,132 shares of the company's stock, valued at approximately $3,500,769.08. This represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 transaction, the chief financial officer directly owned 60,772 shares in the company, valued at approximately $2,255,248.92. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

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.