UBS Group AG Grows Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

UBS Group AG boosted its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWSFree Report) by 37.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 217,525 shares of the company’s stock after acquiring an additional 59,278 shares during the period. UBS Group AG owned 0.13% of Zurn Elkay Water Solutions worth $6,397,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ZWS. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Zurn Elkay Water Solutions by 145.1% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock worth $202,037,000 after purchasing an additional 4,268,785 shares during the last quarter. Norges Bank acquired a new position in Zurn Elkay Water Solutions in the 4th quarter valued at $39,532,000. Raymond James & Associates raised its position in Zurn Elkay Water Solutions by 1,622.8% during the 4th quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock worth $36,592,000 after buying an additional 1,171,985 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Zurn Elkay Water Solutions by 2,065.2% in the 4th quarter. Victory Capital Management Inc. now owns 476,854 shares of the company’s stock worth $14,024,000 after acquiring an additional 454,830 shares during the period. Finally, Epoch Investment Partners Inc. boosted its holdings in shares of Zurn Elkay Water Solutions by 199.2% in the third quarter. Epoch Investment Partners Inc. now owns 302,491 shares of the company’s stock valued at $8,476,000 after acquiring an additional 201,394 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Stock Up 0.8 %

Zurn Elkay Water Solutions stock opened at $30.87 on Thursday. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 43.48, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. Zurn Elkay Water Solutions Co. has a fifty-two week low of $24.00 and a fifty-two week high of $34.58. The stock’s fifty day moving average is $31.99 and its two-hundred day moving average is $30.93.

Zurn Elkay Water Solutions (NYSE:ZWSGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. Analysts predict that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, May 20th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 17th. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Analyst Ratings Changes

A number of brokerages recently commented 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 for the company in a research report on Thursday, April 25th. Oppenheimer raised their price target on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Mizuho lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Friday, February 9th. Finally, BNP Paribas initiated coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.50.

Read Our Latest Analysis on Zurn Elkay Water Solutions

Insider Buying and Selling at Zurn Elkay Water Solutions

In other 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 value of $1,614,534.96. Following the completion of the transaction, the insider now directly 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 SEC, which is accessible through this hyperlink. In related news, major shareholder Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock in a transaction dated 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 in the company, valued at approximately $804,460,096.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas Christopoul sold 10,495 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $32.11, for a total transaction of $336,994.45. Following the completion of the transaction, the director now owns 104,844 shares in the company, valued at $3,366,540.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 603,840 shares of company stock worth $19,386,823. 3.00% of the stock is owned by insiders.

About Zurn Elkay Water Solutions

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Zurn Elkay Water Solutions (NYSE:ZWS)

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