NewEdge Wealth LLC Takes Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

NewEdge Wealth LLC purchased a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 106,441 shares of the company's stock, valued at approximately $3,130,000. NewEdge Wealth LLC owned about 0.06% of Zurn Elkay Water Solutions at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in shares of Zurn Elkay Water Solutions by 50.0% during the 2nd quarter. IFP Advisors Inc now owns 1,500 shares of the company's stock valued at $40,000 after purchasing an additional 500 shares in the last quarter. Gabelli Funds LLC raised its stake in Zurn Elkay Water Solutions by 1.5% during the 4th quarter. Gabelli Funds LLC now owns 33,600 shares of the company's stock worth $711,000 after buying an additional 500 shares during the period. FMR LLC raised its stake in Zurn Elkay Water Solutions by 7.3% during the 3rd quarter. FMR LLC now owns 8,153 shares of the company's stock worth $228,000 after buying an additional 558 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Zurn Elkay Water Solutions by 3.5% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 19,623 shares of the company's stock worth $419,000 after buying an additional 660 shares during the period. Finally, Fiera Capital Corp raised its stake in Zurn Elkay Water Solutions by 0.7% during the 3rd quarter. Fiera Capital Corp now owns 119,908 shares of the company's stock worth $3,360,000 after buying an additional 781 shares during the period. Institutional investors own 83.33% of the company's stock.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 129,604 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the completion of the transaction, the chief executive officer now directly owns 1,828,550 shares of the company's stock, valued at $60,451,863. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Mark W. Peterson sold 70,000 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $32.88, for a total value of $2,301,600.00. Following the completion of the transaction, the chief financial officer now directly owns 302,299 shares in the company, valued at $9,939,591.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Todd A. Adams sold 129,604 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the completion of the transaction, the chief executive officer now owns 1,828,550 shares of the company's stock, valued at $60,451,863. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 343,243 shares of company stock valued at $11,217,501. Company insiders own 3.80% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded down $0.29 on Friday, reaching $31.91. 813,582 shares of the company's stock traded hands, compared to its average volume of 708,826. The company has a current ratio of 3.02, a quick ratio of 1.77 and a debt-to-equity ratio of 0.31. The stock has a market cap of $5.52 billion, a PE ratio of 49.09, a PEG ratio of 1.78 and a beta of 1.22. The stock's 50 day simple moving average is $31.97 and its two-hundred day simple moving average is $29.74. Zurn Elkay Water Solutions Co. has a 52-week low of $20.06 and a 52-week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The company had revenue of $356.80 million during the quarter, compared to the consensus estimate of $350.55 million. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. Zurn Elkay Water Solutions's revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $0.16 earnings per share. On average, analysts forecast that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, February 16th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 49.23%.

Analyst Ratings Changes

A number of research firms recently weighed in on ZWS. Mizuho downgraded Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 price target on the stock. in a research note on Friday, February 9th. Oppenheimer increased their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday. BNP Paribas began coverage on Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They issued an "outperform" rating and a $40.00 price objective for the company. Finally, Stifel Nicolaus downgraded Zurn Elkay Water Solutions from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research note on Tuesday, December 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $32.75.

Zurn Elkay Water Solutions 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.