Wells Fargo & Company MN Acquires 2,206,508 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Wells Fargo & Company MN boosted its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 2,110.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,311,046 shares of the company’s stock after acquiring an additional 2,206,508 shares during the period. Wells Fargo & Company MN owned 1.34% of Zurn Elkay Water Solutions worth $67,968,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Global Alpha Capital Management Ltd. purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter worth approximately $1,512,000. UBS Group AG increased its stake in shares of Zurn Elkay Water Solutions by 37.5% in the fourth quarter. UBS Group AG now owns 217,525 shares of the company’s stock worth $6,397,000 after acquiring an additional 59,278 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth $1,511,000. Norges Bank acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth $39,532,000. Finally, Manchester Capital Management LLC increased its stake in shares of Zurn Elkay Water Solutions by 31.3% in the fourth quarter. Manchester Capital Management LLC now owns 16,124 shares of the company’s stock worth $474,000 after acquiring an additional 3,840 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho downgraded shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Friday, February 9th. Oppenheimer upped their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price 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. Five 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, the company currently has an average rating of “Hold” and an average target price of $33.50.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 49,828 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $32.07, for a total value of $1,597,983.96. Following the sale, the insider now directly owns 24,948,932 shares of the company’s stock, valued at approximately $800,112,249.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Ice Mountain Llc sold 49,828 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $32.07, for a total transaction of $1,597,983.96. Following the transaction, the insider now directly owns 24,948,932 shares in the company, valued at $800,112,249.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas Christopoul sold 10,495 shares of Zurn Elkay Water Solutions stock in a transaction on Monday, May 6th. The stock was sold at an average price of $32.11, for a total transaction of $336,994.45. Following the sale, the director now owns 104,844 shares of the company’s stock, valued at $3,366,540.84. The disclosure for this sale can be found here. Insiders sold 557,460 shares of company stock valued at $17,902,663 in the last 90 days. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Trading Up 0.7 %

Shares of NYSE ZWS traded up $0.21 during trading hours on Friday, hitting $31.95. The company’s stock had a trading volume of 790,572 shares, compared to its average volume of 684,470. The business has a 50-day simple moving average of $32.20 and a 200-day simple moving average of $30.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 45.00, a P/E/G ratio of 1.65 and a beta of 1.21. Zurn Elkay Water Solutions Co. has a 12 month low of $21.84 and a 12 month high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data 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 business had revenue of $374.00 million for 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 revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. On average, analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

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

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.