82,329 Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS) Purchased by PDT Partners LLC

PDT Partners LLC acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 82,329 shares of the company’s stock, valued at approximately $2,959,000.

A number of other institutional investors also recently modified their holdings of ZWS. Sei Investments Co. increased its holdings in shares of Zurn Elkay Water Solutions by 11.1% in the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock valued at $6,209,000 after purchasing an additional 21,081 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its position in Zurn Elkay Water Solutions by 23.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock valued at $3,323,000 after buying an additional 17,350 shares during the last quarter. Hsbc Holdings PLC boosted its position in Zurn Elkay Water Solutions by 209.9% in the 2nd quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock valued at $2,411,000 after buying an additional 55,970 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of Zurn Elkay Water Solutions by 4.1% in the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after buying an additional 346,412 shares during the period. Finally, Public Sector Pension Investment Board acquired a new position in shares of Zurn Elkay Water Solutions during the third quarter valued at $10,947,000. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Stock Up 0.4 %

Zurn Elkay Water Solutions stock opened at $39.82 on Friday. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 2.01 and a beta of 1.14. The company’s 50 day simple moving average is $37.41 and its 200 day simple moving average is $33.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.55 and a fifty-two week high of $40.64.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results 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. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same period last year, the firm posted $0.29 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 given a dividend of $0.09 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.57%.

Wall Street Analyst Weigh In

ZWS has been the subject of a number of research reports. Robert W. Baird lifted their price objective 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. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. 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 report on Tuesday, October 22nd. Finally, Mizuho lifted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.17.

Insider Activity

In related news, VP Jeffrey J. Lavalle sold 3,132 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the transaction, the vice president now directly owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. This represents a 8.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions 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 completion of the sale, the vice president now directly owns 80,151 shares in the company, 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 have sold 225,688 shares of company stock worth $8,400,151 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

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.