Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc boosted its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,801,275 shares of the company’s stock after buying an additional 346,412 shares during the quarter. Zurn Elkay Water Solutions accounts for approximately 1.2% of Impax Asset Management Group plc’s holdings, making the stock its 24th biggest holding. Impax Asset Management Group plc owned about 0.05% of Zurn Elkay Water Solutions worth $315,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZWS. Fernwood Investment Management LLC acquired a new position in shares of Zurn Elkay Water Solutions in the third quarter worth about $539,000. Janney Montgomery Scott LLC raised its position in shares of Zurn Elkay Water Solutions by 0.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 209,209 shares of the company’s stock valued at $7,519,000 after purchasing an additional 700 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Zurn Elkay Water Solutions during the 3rd quarter valued at approximately $1,172,000. State of Alaska Department of Revenue acquired a new stake in shares of Zurn Elkay Water Solutions during the third quarter worth approximately $2,943,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Zurn Elkay Water Solutions in the third quarter worth $2,494,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Up 0.2 %

NYSE:ZWS opened at $37.15 on Tuesday. The firm has a market capitalization of $6.30 billion, a PE ratio of 47.03, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 52 week low of $27.55 and a 52 week high of $38.11. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $34.76 and a 200-day moving average of $32.37.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (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 analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. Analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 40.51%.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 10,035 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the transaction, the director now owns 374,982 shares of the company’s stock, valued at approximately $13,124,370. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy J. Jahnke sold 10,035 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total value of $351,225.00. Following the completion of the sale, the director now directly owns 374,982 shares in the company, valued at $13,124,370. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,486 shares of company stock worth $3,338,593 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ZWS has been the topic of a number of research analyst reports. Oppenheimer increased their price objective on shares of 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. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Mizuho upped their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird lifted their target price 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, Deutsche Bank Aktiengesellschaft upped their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of “Hold” and a consensus price target of $38.17.

Zurn Elkay Water Solutions 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.