Gallo Partners LP Invests $1.37 Million in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Gallo Partners LP bought a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 36,734 shares of the company's stock, valued at approximately $1,370,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its position in shares of Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company's stock worth $10,952,000 after acquiring an additional 140,624 shares in the last quarter. Virtu Financial LLC acquired a new stake in Zurn Elkay Water Solutions in the 3rd quarter valued at $234,000. Principal Financial Group Inc. lifted its stake in shares of Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock worth $94,161,000 after purchasing an additional 868,748 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Zurn Elkay Water Solutions by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company's stock worth $58,077,000 after buying an additional 329,563 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company's stock valued at $35,000 after buying an additional 544 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ZWS. Robert W. Baird reduced their target price on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. BNP Paribas downgraded Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 target price for the company. in a research note on Wednesday, April 9th. The Goldman Sachs Group reduced their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.43.

Insiders Place Their Bets

In related news, CFO David J. Pauli sold 8,390 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at $2,107,272.70. This represents a 12.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the sale, the insider now directly owns 15,002,819 shares in the company, valued at $504,094,718.40. The trade was a 37.27 % 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 Stock Performance

NYSE:ZWS traded up $0.56 during trading hours on Friday, reaching $34.99. 664,560 shares of the stock were exchanged, compared to its average volume of 1,125,407. The stock has a market capitalization of $5.89 billion, a P/E ratio of 38.03, a P/E/G ratio of 2.01 and a beta of 1.08. The firm has a 50 day simple moving average of $32.56 and a 200-day simple moving average of $36.13. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 52 week low of $27.74 and a 52 week high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released 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. The firm had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. During the same quarter in the previous year, the company posted $0.29 earnings per share. As a group, sell-side 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.36 annualized dividend and a yield of 1.03%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 36.36%.

About Zurn Elkay Water Solutions

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.