Brown Advisory Inc. Purchases 48,695 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Brown Advisory Inc. raised its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,797,537 shares of the company's stock after buying an additional 48,695 shares during the period. Brown Advisory Inc. owned about 1.62% of Zurn Elkay Water Solutions worth $82,276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Principal Securities Inc. bought a new position in Zurn Elkay Water Solutions in the 4th quarter valued at $34,000. Benjamin Edwards Inc. bought a new position in shares of Zurn Elkay Water Solutions in the fourth quarter valued at about $42,000. Global Retirement Partners LLC lifted 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 in the last quarter. Arlington Trust Co LLC bought a new stake in Zurn Elkay Water Solutions during the 4th quarter worth about $125,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at about $177,000. Institutional investors own 83.33% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Ice Mountain Llc sold 49,828 shares of the business's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $32.07, for a total value of $1,597,983.96. Following the completion of the transaction, the insider now directly owns 24,948,932 shares in the company, valued at approximately $800,112,249.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zurn Elkay Water Solutions news, Director Thomas Christopoul sold 10,495 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $32.11, for a total transaction of $336,994.45. Following the completion of the transaction, the director now owns 104,844 shares in the company, valued at approximately $3,366,540.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ice Mountain Llc sold 49,828 shares of the business's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $32.07, for a total value of $1,597,983.96. Following the completion of the sale, the insider now owns 24,948,932 shares in the company, valued at $800,112,249.24. The disclosure for this sale can be found here. Insiders sold 508,758 shares of company stock worth $16,296,948 over the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ZWS has been the topic of a number of research reports. Oppenheimer upped 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 report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. BNP Paribas initiated coverage on Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an "outperform" rating and a $40.00 price target on the stock. Finally, Mizuho lowered Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $33.50.

Zurn Elkay Water Solutions Trading Up 0.8 %

Shares of NYSE:ZWS traded up $0.26 during mid-day trading on Friday, reaching $32.53. The stock had a trading volume of 397,358 shares, compared to its average volume of 902,174. The firm has a 50 day simple moving average of $32.13 and a two-hundred day simple moving average of $30.68. Zurn Elkay Water Solutions Co. has a twelve month low of $21.78 and a twelve month high of $34.58. The firm has a market cap of $5.62 billion, a PE ratio of 45.82, a price-to-earnings-growth ratio of 1.69 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 announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The company had revenue of $374.00 million for the quarter, compared to analysts' expectations of $369.43 million. During the same period last year, the firm posted $0.18 earnings per share. The business's quarterly revenue was up .5% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, May 20th will be paid a $0.08 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. Zurn Elkay Water Solutions's payout ratio is 45.07%.

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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