Man Group plc Acquires 24,008 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Man Group plc grew its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 53.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,559 shares of the company's stock after acquiring an additional 24,008 shares during the period. Man Group plc's holdings in Zurn Elkay Water Solutions were worth $2,557,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. DAVENPORT & Co LLC lifted its holdings in Zurn Elkay Water Solutions by 3.2% during the 4th quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock worth $319,000 after purchasing an additional 269 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Zurn Elkay Water Solutions by 7.4% during the 4th 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. Sanctuary Advisors LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 0.7% during the fourth quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock worth $2,288,000 after buying an additional 389 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Zurn Elkay Water Solutions by 4.8% in the fourth quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock valued at $352,000 after acquiring an additional 430 shares during the period. Finally, Summit Investment Advisors Inc. grew its stake in shares of Zurn Elkay Water Solutions by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company's stock valued at $562,000 after acquiring an additional 477 shares in the last quarter. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Price Performance

ZWS traded down $0.38 during trading on Wednesday, hitting $36.54. 57,327 shares of the stock traded hands, compared to its average volume of 1,123,887. The business has a 50 day moving average price of $33.25 and a 200 day moving average price of $36.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. Zurn Elkay Water Solutions Co. has a twelve month low of $27.74 and a twelve month high of $41.15. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 2.01 and a beta of 1.02.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its quarterly earnings results 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 had a return on equity of 14.03% and a net margin of 10.23%. The company had revenue of $388.80 million during the quarter, compared to analysts' expectations of $383.87 million. During the same quarter in the previous year, the firm earned $0.29 EPS. Equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.99%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is currently 36.36%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ZWS shares. Robert W. Baird cut their price objective 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 Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price target for the company. in a research note on Wednesday, April 9th. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions in a research note on Friday, May 16th. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their target price on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $36.29.

Insider Activity

In other news, CFO David J. Pauli sold 2,706 shares of the 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 completion of the transaction, the chief financial officer now directly owns 60,772 shares in the company, valued at approximately $2,255,248.92. This represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 25,921 shares of the firm's stock in a transaction on 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 now directly owns 94,132 shares in the company, valued at approximately $3,500,769.08. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

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.