Gallo Partners LP Invests $1.37 Million in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Gallo Partners LP acquired a new position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,734 shares of the company’s stock, valued at approximately $1,370,000.

A number of other hedge funds have also added to or reduced their stakes in ZWS. GAMMA Investing LLC boosted its stake in shares of Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after buying an additional 544 shares during the last quarter. Atala Financial Inc acquired a new position in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $44,000. Tsfg LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $56,000. Tortoise Investment Management LLC raised its stake in shares of Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after purchasing an additional 755 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter valued at approximately $82,000. Institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

ZWS has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. BNP Paribas downgraded Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research report on Wednesday, April 9th. The Goldman Sachs Group cut their price objective on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Finally, Robert W. Baird decreased their target price on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Four 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, Zurn Elkay Water Solutions has an average rating of “Hold” and an average price target of $36.43.

Insider Activity

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now owns 15,002,819 shares of the company’s stock, 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 Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, February 14th. The shares were 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 in the company, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Stock Up 1.3 %

ZWS opened at $34.16 on Wednesday. The stock has a fifty day moving average of $32.59 and a 200-day moving average of $36.19. The company has a market capitalization of $5.77 billion, a P/E ratio of 37.13, a P/E/G ratio of 2.01 and a beta of 1.08. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.74 and a fifty-two week high of $41.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. During the same period in the previous year, the business earned $0.29 earnings per share. On average, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.05%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 36.36%.

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.