Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 49.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,619,953 shares of the company’s stock after purchasing an additional 868,748 shares during the quarter. Principal Financial Group Inc.’s holdings in Zurn Elkay Water Solutions were worth $94,161,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP boosted its stake in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after acquiring an additional 373 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Zurn Elkay Water Solutions during the 2nd quarter worth $29,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 3rd quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after purchasing an additional 1,267 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS opened at $39.19 on Friday. 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 $6.65 billion, a PE ratio of 49.61, a P/E/G ratio of 2.02 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 1-year low of $27.55 and a 1-year high of $40.64. The business’s fifty day moving average price is $35.19 and its two-hundred day moving average price is $32.51.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. On average, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. Zurn Elkay Water Solutions’s payout ratio is currently 40.51%.

Analysts Set New Price Targets

A number of research firms recently commented on ZWS. Robert W. Baird boosted their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price objective 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. Oppenheimer boosted their target price 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. Finally, Mizuho raised their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Hold” and a consensus price target of $38.17.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the sale, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. 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. Also, CFO David J. Pauli sold 4,070 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the sale, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at approximately $1,862,443.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock valued at $8,400,151 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

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.