Impax Asset Management Group plc Purchases 916,850 Shares of Zurn Elkay Water Solutions Cor $ZWS

Impax Asset Management Group plc boosted its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 22.8% during the second quarter, HoldingsChannel.com reports. The fund owned 4,933,224 shares of the company’s stock after buying an additional 916,850 shares during the quarter. Impax Asset Management Group plc’s holdings in Zurn Elkay Water Solutions Cor were worth $180,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock valued at $523,094,000 after purchasing an additional 371,635 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Zurn Elkay Water Solutions Cor by 0.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company’s stock valued at $448,714,000 after buying an additional 42,277 shares in the last quarter. Invesco Ltd. grew its position in Zurn Elkay Water Solutions Cor by 1.9% in the first quarter. Invesco Ltd. now owns 5,991,234 shares of the company’s stock valued at $197,591,000 after acquiring an additional 110,932 shares during the last quarter. Beck Mack & Oliver LLC grew its position in Zurn Elkay Water Solutions Cor by 2.5% in the first quarter. Beck Mack & Oliver LLC now owns 3,572,869 shares of the company’s stock valued at $117,833,000 after acquiring an additional 87,303 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Zurn Elkay Water Solutions Cor by 2.7% during the second quarter. Geode Capital Management LLC now owns 3,446,680 shares of the company’s stock worth $126,059,000 after acquiring an additional 91,740 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 7,461 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $47.50, for a total transaction of $354,397.50. Following the completion of the sale, the director owned 162,000 shares of the company’s stock, valued at approximately $7,695,000. This represents a 4.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 40,100 shares of company stock valued at $1,911,084 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ZWS has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. Oppenheimer set a $53.00 price target on shares of Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a report on Friday, October 31st. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Finally, Mizuho set a $49.00 target price on Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $47.46 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.78. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $50.03. The firm has a market cap of $7.94 billion, a PE ratio of 42.38, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12. The firm’s fifty day moving average is $46.81 and its 200-day moving average is $41.61.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $455.40 million during the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.34 EPS. Sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be paid a $0.11 dividend. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 39.29%.

Zurn Elkay Water Solutions Cor 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.