Impax Asset Management Group plc Raises Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Impax Asset Management Group plc lifted its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,801,275 shares of the company’s stock after buying an additional 346,412 shares during the period. Zurn Elkay Water Solutions makes up approximately 1.2% of Impax Asset Management Group plc’s holdings, making the stock its 24th largest position. Impax Asset Management Group plc owned approximately 5.15% of Zurn Elkay Water Solutions worth $315,645,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC lifted its position in Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after acquiring an additional 373 shares during the period. Quarry LP grew its position in Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Zurn Elkay Water Solutions in the 2nd quarter valued at $29,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions in the 3rd quarter valued at $36,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Zurn Elkay Water Solutions by 732.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after buying an additional 1,267 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ZWS. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Oppenheimer boosted their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Mizuho raised their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.17.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $37.15 on Tuesday. The business has a 50 day moving average price of $34.76 and a 200 day moving average price of $32.37. The company has a market capitalization of $6.30 billion, a P/E ratio of 47.03, a PEG ratio of 1.88 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 1-year low of $27.55 and a 1-year high of $38.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. Sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be given a $0.09 dividend. The ex-dividend date is Wednesday, November 20th. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 40.51%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the sale, the director now owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Timothy J. Jahnke sold 15,600 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the transaction, the director now owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the transaction, the vice president now owns 80,151 shares in the company, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,486 shares of company stock valued at $3,338,593 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

About Zurn Elkay Water Solutions

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.