World Equity Group Inc. Buys New Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

World Equity Group Inc. bought a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the fourth quarter, Holdings Channel.com reports. The fund bought 7,280 shares of the company’s stock, valued at approximately $272,000.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after buying an additional 544 shares during the last quarter. Tsfg LLC purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $56,000. KBC Group NV grew its position in shares of Zurn Elkay Water Solutions by 20.9% in the 3rd quarter. KBC Group NV now owns 3,978 shares of the company’s stock valued at $143,000 after buying an additional 688 shares during the last quarter. Millburn Ridgefield Corp boosted its stake in Zurn Elkay Water Solutions by 1,152.5% during the 3rd quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock worth $186,000 after purchasing an additional 4,760 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Zurn Elkay Water Solutions by 78.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,294 shares of the company’s stock worth $235,000 after purchasing an additional 2,769 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Down 0.1 %

ZWS stock opened at $34.86 on Tuesday. Zurn Elkay Water Solutions Co. has a one year low of $28.25 and a one year high of $41.15. The stock has a market capitalization of $5.93 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. 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 company has a fifty day moving average of $37.48 and a 200-day moving average of $36.46.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. As a group, 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 announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now 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 position. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Mizuho increased their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird increased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Three 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 company has a consensus rating of “Moderate Buy” and an average price target of $38.67.

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.