Perpetual Ltd Purchases 50,207 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Perpetual Ltd increased its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 23.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,396 shares of the company's stock after purchasing an additional 50,207 shares during the quarter. Perpetual Ltd owned approximately 0.16% of Zurn Elkay Water Solutions Cor worth $8,720,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZWS. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 0.7% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,563,362 shares of the company's stock worth $505,913,000 after buying an additional 91,758 shares during the period. Invesco Ltd. boosted its stake in Zurn Elkay Water Solutions Cor by 26.8% in the fourth quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock valued at $219,335,000 after acquiring an additional 1,242,642 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Zurn Elkay Water Solutions Cor by 6.5% in the fourth quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company's stock valued at $149,444,000 after acquiring an additional 245,258 shares during the last quarter. First Trust Advisors LP grew its holdings in Zurn Elkay Water Solutions Cor by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock worth $132,661,000 after acquiring an additional 2,304,285 shares during the period. Finally, Beck Mack & Oliver LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 0.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 3,485,566 shares of the company's stock valued at $130,012,000 after acquiring an additional 17,090 shares during the last quarter. 83.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, CFO David J. Pauli sold 2,706 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 60,772 shares in the company, valued at approximately $2,255,248.92. This represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 25,921 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $37.19, for a total value of $964,001.99. Following the completion of the sale, the vice president now owns 94,132 shares in the company, valued at approximately $3,500,769.08. This trade represents 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 currently owned by company insiders.

Zurn Elkay Water Solutions Cor Stock Down 0.2%

Shares of Zurn Elkay Water Solutions Cor stock opened at $36.56 on Friday. The company has a market capitalization of $6.15 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 2.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.72. The business has a 50-day moving average of $35.52 and a two-hundred day moving average of $35.45. 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 posted 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 business had revenue of $388.80 million during the quarter, compared to analysts' expectations of $383.87 million. Zurn Elkay Water Solutions Cor had a return on equity of 14.43% and a net margin of 10.72%. During the same period in the prior year, the business earned $0.29 EPS. As a group, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed 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. This represents a $0.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Tuesday, May 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is 36.36%.

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.

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