Raymond James Financial Inc. Purchases New Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Raymond James Financial Inc. bought a new position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,157,016 shares of the company’s stock, valued at approximately $80,457,000.

Several other hedge funds have also added to or reduced their stakes in ZWS. New York State Teachers Retirement System bought a new stake in Zurn Elkay Water Solutions in the third quarter worth $1,172,000. Impax Asset Management Group plc boosted its holdings in Zurn Elkay Water Solutions by 4.1% in the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after acquiring an additional 346,412 shares in the last quarter. Amalgamated Bank boosted its holdings in Zurn Elkay Water Solutions by 714.9% in the third quarter. Amalgamated Bank now owns 42,368 shares of the company’s stock worth $1,523,000 after acquiring an additional 37,169 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Zurn Elkay Water Solutions by 2.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 61,813 shares of the company’s stock worth $2,222,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Zurn Elkay Water Solutions by 63.5% in the third quarter. Venturi Wealth Management LLC now owns 9,011 shares of the company’s stock worth $324,000 after acquiring an additional 3,498 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Insider Activity at Zurn Elkay Water Solutions

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was 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 in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the sale, the chief financial officer now owns 59,410 shares of the company’s stock, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Stock Up 2.4 %

ZWS stock opened at $35.42 on Monday. Zurn Elkay Water Solutions Co. has a 1-year low of $28.25 and a 1-year high of $41.15. The business has a fifty day moving average price of $36.96 and a 200-day moving average price of $36.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The stock has a market capitalization of $6.02 billion, a P/E ratio of 38.50, a P/E/G ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate 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%. Equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

Analyst Ratings Changes

Separately, Stifel Nicolaus boosted their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $38.67.

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.