Northern Trust Corp Increases Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Northern Trust Corp grew its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,873,521 shares of the company's stock after purchasing an additional 112,050 shares during the period. Northern Trust Corp owned approximately 1.10% of Zurn Elkay Water Solutions worth $69,882,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted 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 worth $35,000 after buying an additional 544 shares during the last quarter. Atala Financial Inc purchased a new position in shares of Zurn Elkay Water Solutions in the fourth quarter valued at approximately $44,000. Tsfg LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter valued at approximately $56,000. Tortoise Investment Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 77.4% in the fourth 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 last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter valued at approximately $82,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Stock Up 0.1%

Shares of NYSE:ZWS traded up $0.04 on Friday, hitting $35.21. 607,309 shares of the company's stock were exchanged, compared to its average volume of 1,128,753. 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 debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The company has a market capitalization of $5.92 billion, a PE ratio of 38.27, a P/E/G ratio of 2.01 and a beta of 1.02. The firm's 50-day moving average is $32.54 and its 200 day moving average is $36.06.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. The firm had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. During the same period in the prior year, the business earned $0.29 EPS. Sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.02%. Zurn Elkay Water Solutions's dividend payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

ZWS has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Robert W. Baird cut their target price on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. 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. Finally, BNP Paribas lowered Zurn Elkay Water Solutions 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $36.43.

Insider Activity

In related news, CFO David J. Pauli sold 8,390 shares of the firm'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 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 trade represents a 12.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 15,002,819 shares of the company's stock, valued at $504,094,718.40. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Company 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.