Mirae Asset Global Investments Co. Ltd. grew its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS – Free Report) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 955,894 shares of the company’s stock after buying an additional 106,925 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.55% of Zurn Elkay Water Solutions worth $25,704,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in ZWS. Rockefeller Capital Management L.P. grew its holdings in Zurn Elkay Water Solutions by 1,087.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,354 shares of the company’s stock worth $28,000 after acquiring an additional 1,240 shares in the last quarter. Assetmark Inc. bought a new position in shares of Zurn Elkay Water Solutions during the first quarter valued at approximately $31,000. IFP Advisors Inc increased its holdings in Zurn Elkay Water Solutions by 50.0% during the second quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock valued at $97,000 after buying an additional 500 shares during the period. Global Retirement Partners LLC raised its stake in Zurn Elkay Water Solutions by 7,168.2% in the first quarter. Global Retirement Partners LLC now owns 1,599 shares of the company’s stock worth $34,000 after buying an additional 1,577 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Zurn Elkay Water Solutions during the 1st quarter valued at $64,000. Institutional investors own 82.45% of the company’s stock.
Insiders Place Their Bets
In related news, insider Michael Troutman sold 35,082 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $29.75, for a total transaction of $1,043,689.50. Following the completion of the transaction, the insider now directly owns 32,008 shares in the company, valued at $952,238. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Craig Wehr sold 55,133 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $28.09, for a total transaction of $1,548,685.97. Following the sale, the insider now owns 81,905 shares of the company’s stock, valued at approximately $2,300,711.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Troutman sold 35,082 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $29.75, for a total transaction of $1,043,689.50. Following the transaction, the insider now directly owns 32,008 shares of the company’s stock, valued at $952,238. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.
Zurn Elkay Water Solutions Trading Down 2.8 %
Zurn Elkay Water Solutions (NYSE:ZWS – Get Free Report) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $398.40 million during the quarter, compared to analysts’ expectations of $396.38 million. Zurn Elkay Water Solutions had a return on equity of 9.65% and a net margin of 7.46%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 EPS. On average, equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 0.95 earnings per share for the current year.
Zurn Elkay Water Solutions Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Monday, November 20th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Friday, November 17th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.07. Zurn Elkay Water Solutions’s dividend payout ratio is 49.23%.
Analysts Set New Price Targets
Several research analysts have recently commented on ZWS shares. The Goldman Sachs Group lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $31.00 to $29.00 in a research report on Monday, October 9th. TheStreet cut shares of Zurn Elkay Water Solutions from a “b” rating to a “c+” rating in a report on Tuesday, October 3rd. Mizuho boosted their price objective on shares of Zurn Elkay Water Solutions from $26.00 to $34.00 in a research note on Wednesday, July 26th. Robert W. Baird raised their target price on shares of Zurn Elkay Water Solutions from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, July 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price target on shares of Zurn Elkay Water Solutions in a research report on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of “Moderate Buy” and an average target price of $31.14.
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, including interceptors, water control and backflow, fire protection, PEX pipings and tubings, valves, fittings, and installation tools under the Zurn and Wilkis brand names.
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