Price T Rowe Associates Inc. MD Grows Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Price T Rowe Associates Inc. MD boosted its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 11.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 97,051 shares of the company's stock after acquiring an additional 9,795 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of Zurn Elkay Water Solutions worth $3,621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ZWS. GAMMA Investing LLC raised its position in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company's stock valued at $35,000 after purchasing an additional 544 shares during the period. Atala Financial Inc purchased a new position in Zurn Elkay Water Solutions in the 4th quarter valued at approximately $44,000. Tsfg LLC bought a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $56,000. Tortoise Investment Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 77.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock worth $65,000 after acquiring an additional 755 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Zurn Elkay Water Solutions in the fourth quarter valued at $82,000. 83.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value 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. This trade represents a 12.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the transaction, the insider now directly owns 15,002,819 shares in the company, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock traded up $0.04 on Friday, hitting $35.21. 607,309 shares of the company traded hands, compared to its average volume of 1,123,888. Zurn Elkay Water Solutions Co. has a 12-month low of $27.74 and a 12-month high of $41.15. The firm's 50-day simple moving average is $32.52 and its 200 day simple moving average is $36.07. The company has a market cap of $5.92 billion, a P/E ratio of 38.27, a P/E/G ratio of 2.01 and a beta of 1.02. The company has a current ratio of 2.91, a quick ratio of 1.81 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 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $388.80 million during the quarter, compared to analyst estimates 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 company posted $0.29 earnings per share. Analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Tuesday, May 20th. Zurn Elkay Water Solutions's payout ratio is currently 36.36%.

Analyst Upgrades and Downgrades

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

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.