Virtu Financial LLC Invests $234,000 in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Virtu Financial LLC acquired a new position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,500 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Zurn Elkay Water Solutions by 23.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock worth $2,239,000 after buying an additional 11,732 shares during the period. Geode Capital Management LLC increased its stake in Zurn Elkay Water Solutions by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after purchasing an additional 35,570 shares during the period. Barclays PLC lifted its position in shares of Zurn Elkay Water Solutions by 85.7% during the third quarter. Barclays PLC now owns 304,731 shares of the company’s stock worth $10,952,000 after purchasing an additional 140,624 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Zurn Elkay Water Solutions by 2.5% during the third quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock valued at $650,000 after purchasing an additional 449 shares during the period. Finally, State Street Corp grew its holdings in shares of Zurn Elkay Water Solutions by 63.8% in the third quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after purchasing an additional 2,119,777 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Insider Activity

In related news, VP Jeffrey J. Lavalle sold 3,132 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $122,617.80. Following the transaction, the vice president now directly owns 35,422 shares of the company’s stock, valued at $1,386,771.30. This represents a 8.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy J. Jahnke sold 10,035 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $13,124,370. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,237 shares of company stock worth $6,164,583. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 1.5 %

Shares of NYSE ZWS opened at $38.99 on Wednesday. Zurn Elkay Water Solutions Co. has a 1-year low of $27.55 and a 1-year high of $41.15. The business has a fifty day moving average price of $38.50 and a 200 day moving average price of $34.05. The stock has a market capitalization of $6.62 billion, a P/E ratio of 49.36, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. 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 (NYSE:ZWS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating 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 was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. Equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase 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 0.92%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird raised their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho upped their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Oppenheimer raised their price target 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

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.