Summit Investment Advisors Inc. Acquires 477 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Summit Investment Advisors Inc. increased its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 15,070 shares of the company’s stock after buying an additional 477 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Zurn Elkay Water Solutions were worth $562,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after purchasing an additional 544 shares during the last quarter. Atala Financial Inc bought a new stake in Zurn Elkay Water Solutions in the 4th quarter worth approximately $44,000. Tsfg LLC purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $56,000. Tortoise Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock valued at $65,000 after buying an additional 755 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter worth $82,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Up 1.5 %

ZWS opened at $30.04 on Friday. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.74 and a fifty-two week high of $41.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The firm’s fifty day moving average is $33.01 and its 200 day moving average is $36.36.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s payout ratio is currently 39.13%.

Insider Activity

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the sale, the insider now owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction 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 owns 59,410 shares of the company’s stock, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BNP Paribas downgraded Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 target price on the stock. in a report on Wednesday, April 9th. The Goldman Sachs Group reduced their target price on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, Stifel Nicolaus raised shares of Zurn Elkay Water Solutions from a “hold” rating to a “buy” rating and cut their price objective for the company from $39.00 to $34.00 in a research report on Wednesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.71.

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.