Zurn Elkay Water Solutions Cor $ZWS Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,446,680 shares of the company’s stock after purchasing an additional 91,740 shares during the period. Geode Capital Management LLC owned about 2.06% of Zurn Elkay Water Solutions Cor worth $126,059,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Zimmer Partners LP purchased a new stake in Zurn Elkay Water Solutions Cor during the first quarter valued at about $50,344,000. Ameriprise Financial Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 74.1% during the first quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company’s stock valued at $56,577,000 after acquiring an additional 729,920 shares during the period. Nuveen LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at approximately $21,273,000. Vanguard Group Inc. boosted its stake in Zurn Elkay Water Solutions Cor by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock worth $523,094,000 after purchasing an additional 371,635 shares during the period. Finally, Woodline Partners LP acquired a new position in Zurn Elkay Water Solutions Cor in the 1st quarter worth approximately $4,632,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Zurn Elkay Water Solutions Cor Stock Performance

ZWS stock opened at $45.59 on Thursday. The company has a quick ratio of 1.72, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 40.71, a P/E/G ratio of 2.57 and a beta of 1.12. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $50.03. The firm has a 50 day moving average of $46.76 and a two-hundred day moving average of $42.01.

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

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Thursday, November 20th will be paid a dividend of $0.11 per share. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.0%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 39.29%.

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 17,844 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $47.55, for a total value of $848,482.20. Following the transaction, the director directly owned 311,120 shares of the company’s stock, valued at approximately $14,793,756. This trade represents a 5.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 40,100 shares of company stock worth $1,911,084. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor 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.