Northern Trust Corp Buys 112,050 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Northern Trust Corp increased its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,873,521 shares of the company's stock after purchasing an additional 112,050 shares during the period. Northern Trust Corp owned 1.10% of Zurn Elkay Water Solutions worth $69,882,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company's stock worth $35,000 after acquiring an additional 544 shares during the last quarter. Atala Financial Inc acquired a new stake in Zurn Elkay Water Solutions in the fourth quarter worth about $44,000. Tsfg LLC bought a new stake in Zurn Elkay Water Solutions during the 4th quarter worth about $56,000. Tortoise Investment Management LLC lifted its position in Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock valued at $65,000 after purchasing an additional 755 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at about $82,000. Institutional investors and hedge funds own 83.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ZWS shares. The Goldman Sachs Group cut their price objective on shares of 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. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Robert W. Baird dropped their price objective on 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. Finally, BNP Paribas cut Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 target price on the stock. in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $36.43.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now owns 15,002,819 shares in the company, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

ZWS stock opened at $34.82 on Tuesday. Zurn Elkay Water Solutions Co. has a 1-year low of $27.74 and a 1-year high of $41.15. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The firm has a market cap of $5.86 billion, a PE ratio of 37.85, a P/E/G ratio of 2.01 and a beta of 1.02. The business's 50-day moving average price is $32.55 and its two-hundred day moving average price is $36.11.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $388.80 million for the quarter, compared to analysts' expectations of $383.87 million. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be given a $0.09 dividend. 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 is currently 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.

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