Zurn Elkay Water Solutions Cor $ZWS Shares Acquired by Legal & General Group Plc

Legal & General Group Plc grew its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 889,044 shares of the company’s stock after acquiring an additional 68,832 shares during the quarter. Legal & General Group Plc’s holdings in Zurn Elkay Water Solutions Cor were worth $32,512,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Whittier Trust Co. acquired a new position in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at $26,000. First Horizon Advisors Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after buying an additional 502 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 3,687.2% during the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock worth $59,000 after buying an additional 1,733 shares in the last quarter. CWM LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 33.8% in the second quarter. CWM LLC now owns 1,799 shares of the company’s stock valued at $66,000 after buying an additional 454 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 137.6% in the second quarter. GAMMA Investing LLC now owns 2,262 shares of the company’s stock worth $83,000 after buying an additional 1,310 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 7,461 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $47.50, for a total value of $354,397.50. Following the transaction, the director owned 162,000 shares of the company’s stock, valued at $7,695,000. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 40,100 shares of company stock worth $1,911,084. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZWS. Mizuho set a $49.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Oppenheimer set a $53.00 price target on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research report on Friday, October 31st. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

Zurn Elkay Water Solutions Cor Trading Up 0.5%

ZWS opened at $48.26 on Thursday. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $50.03. The stock has a market capitalization of $8.08 billion, a PE ratio of 43.09, a P/E/G ratio of 2.57 and a beta of 1.12. The business’s 50 day moving average price is $46.76 and its 200 day moving average price is $42.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.78.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.The company had revenue of $455.40 million during the quarter, compared to analysts’ expectations of $442.62 million. During the same quarter last year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Thursday, November 20th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 39.29%.

About Zurn Elkay Water Solutions Cor

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.