Arizona State Retirement System Has $1.37 Million Stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Arizona State Retirement System lowered its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 41,379 shares of the company’s stock after selling 786 shares during the period. Arizona State Retirement System’s holdings in Zurn Elkay Water Solutions Cor were worth $1,365,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in shares of Zurn Elkay Water Solutions Cor by 9.2% in the fourth quarter. HighTower Advisors LLC now owns 8,834 shares of the company’s stock valued at $329,000 after acquiring an additional 742 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Zurn Elkay Water Solutions Cor by 60.5% in the fourth quarter. Natixis Advisors LLC now owns 21,267 shares of the company’s stock valued at $793,000 after acquiring an additional 8,017 shares in the last quarter. Corient Private Wealth LLC grew its position in Zurn Elkay Water Solutions Cor by 6.7% during the fourth quarter. Corient Private Wealth LLC now owns 13,903 shares of the company’s stock valued at $519,000 after buying an additional 876 shares during the period. Cibc World Markets Corp bought a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at about $503,000. Finally, Xponance Inc. grew its position in Zurn Elkay Water Solutions Cor by 22.8% during the fourth quarter. Xponance Inc. now owns 11,547 shares of the company’s stock valued at $431,000 after buying an additional 2,146 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ZWS has been the topic of several research analyst reports. BNP Paribas downgraded Zurn Elkay Water Solutions Cor from an “outperform” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a research note on Wednesday, April 9th. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. The Goldman Sachs Group decreased their price target on shares of Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Robert W. Baird decreased their price target on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus upped their price target on shares of Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.29.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $37.53 on Friday. The company has a current ratio of 2.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $36.61 and a 200-day moving average of $35.34. The firm has a market cap of $6.31 billion, a P/E ratio of 37.91, a P/E/G ratio of 2.33 and a beta of 0.99. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $41.15.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. The company had revenue of $388.80 million during the quarter, compared to analyst estimates of $383.87 million. During the same period in the prior year, the business posted $0.29 earnings per share. Sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Tuesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 36.36%.

Insider Transactions at Zurn Elkay Water Solutions Cor

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

Zurn Elkay Water Solutions Cor 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.