Cetera Investment Advisers Grows Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Cetera Investment Advisers boosted its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 9.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,550 shares of the company’s stock after buying an additional 1,704 shares during the period. Cetera Investment Advisers’ holdings in Zurn Elkay Water Solutions were worth $767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atala Financial Inc purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $44,000. Tortoise Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock valued at $65,000 after buying an additional 755 shares during the period. Caisse Des Depots ET Consignations purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $82,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Zurn Elkay Water Solutions by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company’s stock valued at $205,000 after buying an additional 344 shares during the period. Finally, Carret Asset Management LLC purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $205,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Transactions at Zurn Elkay Water Solutions

In related news, VP Sudhanshu Chhabra sold 25,921 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $37.19, for a total transaction of $964,001.99. Following the sale, the vice president now owns 94,132 shares of the company’s stock, valued at $3,500,769.08. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David J. Pauli sold 2,706 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total value of $100,419.66. Following the sale, the chief financial officer now directly owns 60,772 shares in the company, valued at approximately $2,255,248.92. The trade was a 4.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ZWS. BNP Paribas lowered Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a report on Wednesday, April 9th. Mizuho set a $36.00 target price on Zurn Elkay Water Solutions in a research note on Friday, May 16th. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. The Goldman Sachs Group reduced their target price on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Robert W. Baird reduced their target price on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average price target of $36.29.

Zurn Elkay Water Solutions Price Performance

ZWS opened at $35.55 on Friday. Zurn Elkay Water Solutions Co. has a 12-month low of $27.74 and a 12-month high of $41.15. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $33.16 and its 200-day simple moving average is $36.06. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.01 and a beta of 1.02.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. The business had revenue of $388.80 million for the quarter, compared to the consensus estimate of $383.87 million. During the same quarter in the prior year, the company earned $0.29 EPS. On average, equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Tuesday, May 20th. Zurn Elkay Water Solutions’s payout ratio is 36.36%.

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.