Handelsbanken Fonder AB Buys 15,900 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Handelsbanken Fonder AB increased its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 65.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,118 shares of the company’s stock after acquiring an additional 15,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Zurn Elkay Water Solutions were worth $1,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of Zurn Elkay Water Solutions by 70.9% in the third quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock valued at $72,000 after acquiring an additional 1,064 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Zurn Elkay Water Solutions by 85.4% during the fourth quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock worth $93,000 after purchasing an additional 1,517 shares in the last quarter. Arlington Trust Co LLC bought a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at approximately $125,000. Nisa Investment Advisors LLC lifted its holdings in Zurn Elkay Water Solutions by 16.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock worth $203,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Teza Capital Management LLC bought a new position in Zurn Elkay Water Solutions in the 3rd quarter worth approximately $207,000. Institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZWS. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and a consensus target price of $33.50.

Zurn Elkay Water Solutions Trading Down 0.6 %

ZWS stock opened at $31.70 on Monday. Zurn Elkay Water Solutions Co. has a twelve month low of $20.06 and a twelve month high of $34.58. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $31.95 and its two-hundred day simple moving average is $30.07.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The firm had revenue of $374.00 million during the quarter, compared to analysts’ expectations of $369.43 million. During the same period in the previous year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, February 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s dividend payout ratio is 45.07%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 50,172 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the completion of the transaction, the insider now owns 24,998,760 shares in the company, valued at approximately $804,460,096.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $32.18, for a total value of $1,614,534.96. Following the completion of the sale, the insider now owns 24,998,760 shares of the company’s stock, valued at approximately $804,460,096.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Troutman sold 897 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.70, for a total value of $27,537.90. Following the transaction, the insider now directly owns 43,026 shares in the company, valued at $1,320,898.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 741,506 shares of company stock worth $23,964,936. 3.00% of the stock is currently owned by company insiders.

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.