Carret Asset Management LLC Takes Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Carret Asset Management LLC acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 5,500 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds also recently modified their holdings of the stock. Barclays PLC grew its holdings in Zurn Elkay Water Solutions by 85.7% during the third quarter. Barclays PLC now owns 304,731 shares of the company’s stock worth $10,952,000 after purchasing an additional 140,624 shares during the period. Principal Financial Group Inc. grew its holdings 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 purchasing an additional 868,748 shares during the period. Global Alpha Capital Management Ltd. grew its holdings in Zurn Elkay Water Solutions by 23.1% during the third quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock worth $3,323,000 after purchasing an additional 17,350 shares during the period. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 329,563 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Zurn Elkay Water Solutions by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after purchasing an additional 35,570 shares during the period. Institutional investors own 83.33% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the transaction, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at $2,107,272.70. This represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Trading Up 2.6 %

Shares of ZWS stock opened at $33.22 on Friday. The firm has a 50 day moving average price of $36.56 and a two-hundred day moving average price of $36.69. 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 company has a market capitalization of $5.65 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15.

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

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed 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 of this dividend was Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.08%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their price target 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.40.

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.