Zurn Elkay Water Solutions Cor (NYSE:ZWS) Shares Bought by Perpetual Ltd

Perpetual Ltd increased its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 23.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 264,396 shares of the company's stock after acquiring 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 filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Zurn Elkay Water Solutions Cor by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock valued at $205,000 after buying an additional 344 shares during the period. Summit Investment Advisors Inc. grew its holdings in Zurn Elkay Water Solutions Cor 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 purchasing an additional 477 shares during the period. Heritage Family Offices LLP grew its holdings in Zurn Elkay Water Solutions Cor by 4.7% in the first quarter. Heritage Family Offices LLP now owns 11,575 shares of the company's stock valued at $382,000 after purchasing an additional 517 shares during the period. King Luther Capital Management Corp increased its position in Zurn Elkay Water Solutions Cor by 0.3% during the fourth quarter. King Luther Capital Management Corp now owns 169,490 shares of the company's stock worth $6,322,000 after purchasing an additional 531 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Zurn Elkay Water Solutions Cor by 9.2% during the fourth quarter. HighTower Advisors LLC now owns 8,834 shares of the company's stock worth $329,000 after purchasing an additional 742 shares during the period. Institutional investors and hedge funds own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Up 2.2%

Zurn Elkay Water Solutions Cor stock traded up $0.82 during trading on Tuesday, reaching $37.39. 773,694 shares of the company's stock were exchanged, compared to its average volume of 1,089,218. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $41.15. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 37.77, a PEG ratio of 2.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.87. The company's 50-day moving average is $35.79 and its two-hundred day moving average is $35.38.

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. On average, analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

Insider Buying and Selling

In other news, VP Sudhanshu Chhabra sold 25,921 shares of Zurn Elkay Water Solutions Cor 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 sale, the vice president owned 94,132 shares in the company, valued at $3,500,769.08. This trade represents a 21.59% decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the sale, the chief financial officer directly owned 60,772 shares of the company's stock, 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. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.