13,481 Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS) Purchased by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the fourth quarter, HoldingsChannel reports. The firm purchased 13,481 shares of the company’s stock, valued at approximately $503,000.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Zurn Elkay Water Solutions in the fourth quarter valued at approximately $80,457,000. State Street Corp grew its position in Zurn Elkay Water Solutions by 63.8% during the third quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after buying an additional 2,119,777 shares in the last quarter. Principal Financial Group Inc. grew its position in Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after buying an additional 868,748 shares in the last quarter. JPMorgan Chase & Co. grew its position in Zurn Elkay Water Solutions by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock worth $58,077,000 after buying an additional 329,563 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new stake in Zurn Elkay Water Solutions during the third quarter worth approximately $10,947,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Down 0.6 %

Shares of NYSE:ZWS opened at $33.42 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $36.26 and a 200 day simple moving average of $36.78. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15. The firm has a market cap of $5.64 billion, a P/E ratio of 36.33, a P/E/G ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share 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%. Analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, February 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.08%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 39.13%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus increased 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $38.40.

Insiders Place Their Bets

In related news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the sale, the insider now owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares in the company, 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. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Company 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.