New York State Common Retirement Fund Has $1.78 Million Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

New York State Common Retirement Fund lifted its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 60,571 shares of the company’s stock after buying an additional 1,602 shares during the period. New York State Common Retirement Fund’s holdings in Zurn Elkay Water Solutions were worth $1,781,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC grew its holdings in shares of Zurn Elkay Water Solutions by 85.4% during the 4th 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 shares of Zurn Elkay Water Solutions during the 4th quarter worth $125,000. Nisa Investment Advisors LLC lifted its position in shares of Zurn Elkay Water Solutions by 16.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock worth $203,000 after buying an additional 1,000 shares during the last quarter. Teza Capital Management LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 3rd quarter worth $207,000. Finally, Wealth Alliance bought a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth $228,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Trading Down 0.6 %

Shares of ZWS stock opened at $32.11 on Thursday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 45.22, a PEG ratio of 1.65 and a beta of 1.21. The stock has a 50-day moving average of $32.01 and a 200-day moving average of $30.34. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1-year low of $20.70 and a 1-year high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $374.00 million during the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 20th will be paid a $0.08 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Insider Activity

In related news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 24,998,760 shares of the company’s stock, valued at $804,460,096.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 24,998,760 shares of the company’s stock, valued at $804,460,096.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Troutman sold 897 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.70, for a total value of $27,537.90. Following the sale, the insider now directly owns 43,026 shares of the company’s stock, valued at approximately $1,320,898.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 522,397 shares of company stock valued at $16,722,922. Company insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZWS. Deutsche Bank Aktiengesellschaft dropped their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Oppenheimer upped their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Friday, February 9th. Finally, BNP Paribas began coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.50.

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.