Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Bought by Millburn Ridgefield Corp

Millburn Ridgefield Corp raised its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1,152.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,173 shares of the company’s stock after purchasing an additional 4,760 shares during the period. Millburn Ridgefield Corp’s holdings in Zurn Elkay Water Solutions were worth $186,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ZWS. Price T Rowe Associates Inc. MD increased its holdings in Zurn Elkay Water Solutions by 7.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 84,095 shares of the company’s stock valued at $2,815,000 after buying an additional 5,536 shares during the last quarter. Tidal Investments LLC lifted its stake in Zurn Elkay Water Solutions by 24.1% during the first quarter. Tidal Investments LLC now owns 10,889 shares of the company’s stock worth $364,000 after purchasing an additional 2,117 shares during the last quarter. Cetera Advisors LLC acquired a new position in Zurn Elkay Water Solutions in the first quarter worth $209,000. OLD National Bancorp IN increased its stake in Zurn Elkay Water Solutions by 89.7% during the second quarter. OLD National Bancorp IN now owns 12,912 shares of the company’s stock valued at $380,000 after purchasing an additional 6,106 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Zurn Elkay Water Solutions by 228.1% during the second quarter. SG Americas Securities LLC now owns 18,675 shares of the company’s stock worth $549,000 after purchasing an additional 12,983 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insider Activity

In other news, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the sale, the chief financial officer now owns 47,572 shares of the company’s stock, valued at approximately $1,862,443.80. The trade was a 7.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at $2,608,915.05. This represents a 39.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock worth $8,400,151 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $40.32 on Wednesday. Zurn Elkay Water Solutions Co. has a 12-month low of $27.55 and a 12-month high of $40.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 51.04, a price-to-earnings-growth ratio of 2.04 and a beta of 1.14. The business has a 50 day simple moving average of $37.64 and a 200 day simple moving average of $33.45.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. On average, equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a $0.09 dividend. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Oppenheimer lifted their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Mizuho boosted their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Four equities 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 currently has an average rating of “Hold” and an average target price of $38.17.

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.