Charles Schwab Investment Management Inc. Purchases 65,426 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Charles Schwab Investment Management Inc. lifted its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 3.6% in the third quarter, HoldingsChannel.com reports. The firm owned 1,859,433 shares of the company’s stock after purchasing an additional 65,426 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Zurn Elkay Water Solutions were worth $66,828,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Tortoise Investment Management LLC lifted its holdings in Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after buying an additional 373 shares during the period. Quarry LP increased its stake in shares of Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares during the period. International Assets Investment Management LLC bought a new position in shares of Zurn Elkay Water Solutions during the second quarter valued at approximately $29,000. V Square Quantitative Management LLC purchased a new stake in Zurn Elkay Water Solutions in the third quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Zurn Elkay Water Solutions by 732.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after acquiring an additional 1,267 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Timothy J. Jahnke sold 15,600 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the transaction, the director now owns 385,017 shares in the company, valued at $12,717,111.51. The trade was a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the transaction, the vice president now directly owns 80,151 shares in the company, valued at approximately $2,608,915.05. The trade was a 39.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,688 shares of company stock valued at $8,400,151. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

ZWS stock opened at $39.68 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 2.04 and a beta of 1.14. The firm has a 50 day moving average price of $37.31 and a 200-day moving average price of $33.28. Zurn Elkay Water Solutions Co. has a 52-week low of $27.55 and a 52-week high of $40.64.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same period in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.09 per share. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.57%.

Analyst Ratings Changes

ZWS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird raised their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Mizuho increased their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Oppenheimer lifted their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and an average target price of $38.17.

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.