PDT Partners LLC Boosts Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

PDT Partners LLC boosted its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 67.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,539 shares of the company's stock after purchasing an additional 55,210 shares during the quarter. Zurn Elkay Water Solutions makes up 0.5% of PDT Partners LLC's investment portfolio, making the stock its 26th largest position. PDT Partners LLC owned about 0.08% of Zurn Elkay Water Solutions worth $5,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in Zurn Elkay Water Solutions by 184.0% in the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock valued at $132,661,000 after purchasing an additional 2,304,285 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth $80,457,000. Norges Bank bought a new stake in Zurn Elkay Water Solutions during the fourth quarter valued at $61,412,000. Invesco Ltd. grew its position in Zurn Elkay Water Solutions by 26.8% during the fourth quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock worth $219,335,000 after buying an additional 1,242,642 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock worth $94,161,000 after acquiring an additional 868,748 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Trading Up 1.4 %

Shares of ZWS stock traded up $0.49 on Thursday, hitting $34.45. 810,639 shares of the company's stock traded hands, compared to its average volume of 1,124,619. 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 stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 37.44, a P/E/G ratio of 2.01 and a beta of 1.08. The company's fifty day simple moving average is $32.56 and its 200 day simple moving average is $36.16. Zurn Elkay Water Solutions Co. has a one year low of $27.74 and a one year high of $41.15.

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

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.05%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 36.36%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZWS. Robert W. Baird cut their price objective on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. BNP Paribas downgraded shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group reduced their target price on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of "Hold" and a consensus target price of $36.43.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the transaction, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. The trade was a 12.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the sale, the insider now owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Company 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.