Strs Ohio Raises Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Strs Ohio raised its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 235.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,300 shares of the company's stock after purchasing an additional 32,500 shares during the quarter. Strs Ohio's holdings in Zurn Elkay Water Solutions were worth $1,361,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in Zurn Elkay Water Solutions by 70.9% during the 3rd quarter. IFP Advisors Inc now owns 2,564 shares of the company's stock valued at $72,000 after purchasing an additional 1,064 shares during the last quarter. Global Retirement Partners LLC increased its position in Zurn Elkay Water Solutions by 85.4% during the 4th quarter. Global Retirement Partners LLC now owns 3,294 shares of the company's stock worth $93,000 after buying an additional 1,517 shares during the period. Arlington Trust Co LLC bought a new position in Zurn Elkay Water Solutions during the 4th quarter worth $125,000. Nisa Investment Advisors LLC increased its position in Zurn Elkay Water Solutions by 16.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company's stock worth $203,000 after buying an additional 1,000 shares during the period. Finally, Teza Capital Management LLC bought a new position in Zurn Elkay Water Solutions during the 3rd quarter worth $207,000. Institutional investors and hedge funds own 83.33% of the company's stock.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 30,000 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.09, for a total value of $992,700.00. Following the transaction, the director now owns 589,275 shares in the company, valued at $19,499,109.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 30,000 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.09, for a total value of $992,700.00. Following the transaction, the director now owns 589,275 shares in the company, valued at $19,499,109.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ice Mountain Llc sold 43,690 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $31.93, for a total value of $1,395,021.70. Following the completion of the transaction, the insider now owns 24,755,242 shares in the company, valued at approximately $790,434,877.06. The disclosure for this sale can be found here. Insiders have sold a total of 491,924 shares of company stock worth $15,968,328 over the last 90 days. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on ZWS shares. Mizuho cut Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 price objective on the stock. in a research report on Friday, February 9th. BNP Paribas started coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an "outperform" rating and a $40.00 price objective on the stock. Finally, 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 report on Friday, April 12th. 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, Zurn Elkay Water Solutions has an average rating of "Hold" and an average target price of $32.75.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS traded up $0.66 during mid-day trading on Tuesday, reaching $32.75. The company had a trading volume of 1,408,051 shares, compared to its average volume of 973,147. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.02. Zurn Elkay Water Solutions Co. has a one year low of $20.06 and a one year high of $34.58. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 50.39, a PEG ratio of 1.76 and a beta of 1.22. The business's 50-day simple moving average is $31.93 and its 200 day simple moving average is $29.96.

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, topping analysts' consensus estimates of $0.23 by $0.03. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The company had revenue of $356.80 million for the quarter, compared to analysts' expectations of $350.55 million. During the same quarter last year, the business earned $0.16 earnings per share. Zurn Elkay Water Solutions's revenue was up 4.9% on a year-over-year basis. On average, research analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, February 16th. Zurn Elkay Water Solutions's dividend payout ratio is presently 49.23%.

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.