Raymond James & Associates Has $44.24 Million Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Raymond James & Associates grew its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 6.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,321,756 shares of the company's stock after purchasing an additional 77,551 shares during the quarter. Raymond James & Associates owned about 0.76% of Zurn Elkay Water Solutions worth $44,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Zurn Elkay Water Solutions by 0.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 685,528 shares of the company's stock valued at $22,945,000 after buying an additional 3,189 shares in the last quarter. AlphaMark Advisors LLC bought a new position in shares of Zurn Elkay Water Solutions in the 1st quarter valued at about $347,000. Cannon Global Investment Management LLC acquired a new position in shares of Zurn Elkay Water Solutions during the 1st quarter worth about $341,000. Thrive Wealth Management LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 1st quarter valued at about $231,000. Finally, Perpetual Ltd lifted its stake in Zurn Elkay Water Solutions by 9.5% in the 1st quarter. Perpetual Ltd now owns 168,916 shares of the company's stock valued at $5,654,000 after purchasing an additional 14,701 shares during the last quarter. Institutional investors own 83.33% of the company's stock.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 129,604 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The shares were 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 in the company, valued at $60,451,863. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm's stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the sale, the insider now directly owns 24,998,760 shares in the company, valued at approximately $804,460,096.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd A. Adams sold 129,604 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the sale, the chief executive officer now directly owns 1,828,550 shares in the company, valued at $60,451,863. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 741,506 shares of company stock worth $23,964,936. Corporate insiders own 3.80% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE:ZWS traded up $0.01 on Friday, reaching $31.64. 615,725 shares of the company's stock were exchanged, compared to its average volume of 991,257. Zurn Elkay Water Solutions Co. has a twelve month low of $20.70 and a twelve month high of $34.58. The company has a fifty day moving average of $31.98 and a 200-day moving average of $30.19. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 44.56, a PEG ratio of 1.65 and a beta of 1.21. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. The business had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 earnings per share. On average, research analysts predict that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, May 17th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 45.07%.

Analysts Set New Price Targets

Several research firms have issued reports on ZWS. Deutsche Bank Aktiengesellschaft dropped their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, April 25th. Mizuho downgraded Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 price target for the company. in a report on Friday, February 9th. BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an "outperform" rating and a $40.00 price objective on the stock. Finally, Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $33.50.

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.

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