Eagle Bay Advisors LLC Buys New Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Eagle Bay Advisors LLC acquired a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the fourth quarter, HoldingsChannel reports. The firm acquired 6,013 shares of the company’s stock, valued at approximately $177,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZWS. LVW Advisors LLC bought a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at about $569,000. Strs Ohio grew its stake in Zurn Elkay Water Solutions by 235.5% during the fourth quarter. Strs Ohio now owns 46,300 shares of the company’s stock worth $1,361,000 after buying an additional 32,500 shares during the last quarter. Huntington National Bank increased its holdings in shares of Zurn Elkay Water Solutions by 29.5% during the third quarter. Huntington National Bank now owns 537,376 shares of the company’s stock worth $15,057,000 after buying an additional 122,281 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Zurn Elkay Water Solutions by 1,622.8% in the 4th quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock worth $36,592,000 after acquiring an additional 1,171,985 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,726,242 shares of the company’s stock valued at $48,369,000 after purchasing an additional 19,074 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, 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 value of $336,994.45. Following the sale, the director now directly owns 104,844 shares of the company’s stock, valued at approximately $3,366,540.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Zurn Elkay Water Solutions news, Director Thomas Christopoul sold 10,495 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 104,844 shares in the company, valued at $3,366,540.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, April 5th. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 508,758 shares of company stock valued at $16,296,948. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ZWS has been the subject of a number of research reports. Mizuho lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Friday, February 9th. BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price on the stock. Oppenheimer raised their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.50.

Zurn Elkay Water Solutions Stock Up 0.2 %

ZWS traded up $0.08 during trading on Friday, reaching $32.35. The company had a trading volume of 42,055 shares, compared to its average volume of 936,646. The business’s fifty day moving average price is $32.12 and its 200 day moving average price is $30.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.95. Zurn Elkay Water Solutions Co. has a 12 month low of $21.78 and a 12 month high of $34.58. The company has a market cap of $5.59 billion, a P/E ratio of 45.52, a PEG ratio of 1.71 and a beta of 1.21.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current 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 dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.99%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

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.