Graham Capital Management L.P. Grows Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Graham Capital Management L.P. boosted its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 66.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,850 shares of the company’s stock after acquiring an additional 14,671 shares during the period. Graham Capital Management L.P.’s holdings in Zurn Elkay Water Solutions were worth $1,375,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZWS. GAMMA Investing LLC grew its stake in Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after acquiring an additional 544 shares during the period. Atala Financial Inc purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter worth approximately $44,000. Tsfg LLC purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter worth approximately $56,000. Tortoise Investment Management LLC grew its stake in Zurn Elkay Water Solutions by 77.4% in the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after acquiring an additional 755 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter worth approximately $82,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the sale, the insider now owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. The trade was a 37.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction on 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 in the company, valued at $2,107,272.70. This trade represents a 12.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ZWS shares. The Goldman Sachs Group lowered their target price on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. BNP Paribas lowered shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a report on Wednesday, April 9th. Robert W. Baird decreased their price target on shares of 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. Finally, Stifel Nicolaus lifted 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 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.43.

Zurn Elkay Water Solutions Stock Up 5.8%

Shares of ZWS opened at $37.25 on Tuesday. The firm has a market cap of $6.27 billion, a PE ratio of 40.49, a price-to-earnings-growth ratio of 2.01 and a beta of 1.02. The company’s fifty day moving average is $32.60 and its two-hundred day moving average is $36.07. 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 quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31.

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

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Tuesday, May 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 36.36%.

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.