Duff & Phelps Investment Management Co. Increases Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Duff & Phelps Investment Management Co. raised its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 10.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 367,857 shares of the company’s stock after acquiring an additional 34,574 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Zurn Elkay Water Solutions were worth $13,721,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp raised its position in shares of Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after acquiring an additional 2,119,777 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Zurn Elkay Water Solutions by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after acquiring an additional 35,570 shares during the period. Principal Financial Group Inc. raised its position in shares of Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after purchasing an additional 868,748 shares during the last quarter. Crescent Grove Advisors LLC lifted its stake in shares of Zurn Elkay Water Solutions by 5.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company’s stock worth $90,842,000 after purchasing an additional 130,732 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $80,457,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Activity

In related news, CFO David J. Pauli sold 8,390 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at approximately $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the sale, the insider now directly owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 0.5 %

Shares of NYSE ZWS opened at $33.80 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15. The stock’s 50 day simple moving average is $36.00 and its 200 day simple moving average is $36.84. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. Equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 39.13%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions has an average rating of “Hold” and an average target price of $38.40.

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.