Y Intercept Hong Kong Ltd Makes New Investment in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Y Intercept Hong Kong Ltd purchased a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,598 shares of the company's stock, valued at approximately $448,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ZWS shares. Mizuho set a $36.00 price target on Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. BNP Paribas downgraded Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 target price for the company. in a report on Wednesday, April 9th. Robert W. Baird decreased their price target 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. Finally, Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a report on Thursday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Hold" and a consensus target price of $37.86.

Zurn Elkay Water Solutions Cor Stock Up 0.1%

NYSE ZWS traded up $0.05 during trading hours on Friday, hitting $44.30. 977,807 shares of the company were exchanged, compared to its average volume of 991,268. The company has a 50 day moving average of $37.00 and a two-hundred day moving average of $35.50. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $44.43. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 2.65 and a beta of 0.99.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%. The business had revenue of $444.50 million for the quarter, compared to the consensus estimate of $424.55 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business's revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts anticipate 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor's dividend payout ratio is presently 35.64%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, CFO David J. Pauli sold 2,706 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 60,772 shares of the company's stock, valued at $2,255,248.92. This represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sudhanshu Chhabra sold 25,921 shares of the company'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 directly owned 94,132 shares of the company's stock, 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. Corporate 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.