Intech Investment Management LLC Acquires Shares of 42,978 Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Intech Investment Management LLC acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 42,978 shares of the company’s stock, valued at approximately $1,545,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZWS. Principal Financial Group Inc. raised its holdings 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 valued at $94,161,000 after acquiring an additional 868,748 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Zurn Elkay Water Solutions by 37.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after acquiring an additional 465,701 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after buying an additional 346,412 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 2.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after buying an additional 265,857 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Zurn Elkay Water Solutions by 775.5% during the 2nd quarter. Renaissance Technologies LLC now owns 219,693 shares of the company’s stock worth $6,459,000 after buying an additional 194,600 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total value of $4,779,600.00. Following the transaction, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. The trade was a 5.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the transaction, the vice president now directly owns 35,422 shares in the company, valued at $1,386,771.30. This represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,688 shares of company stock worth $8,400,151. Insiders own 3.00% of the company’s stock.

Zurn Elkay Water Solutions Trading Up 0.8 %

Shares of ZWS stock opened at $40.25 on Tuesday. The firm has a market capitalization of $6.83 billion, a P/E ratio of 50.95, a P/E/G ratio of 2.02 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a twelve month low of $27.55 and a twelve month high of $40.64. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $36.98 and its 200 day simple moving average is $33.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same quarter in the previous year, the company posted $0.29 EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Wednesday, November 20th. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s payout ratio is 45.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ZWS. Deutsche Bank Aktiengesellschaft boosted their price target on 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 boosted their price target on 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 boosted their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Mizuho boosted their price target on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Oppenheimer boosted their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions presently 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.