MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 70,349 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 5.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,293,655 shares of the company’s stock after acquiring an additional 70,349 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Zurn Elkay Water Solutions were worth $48,253,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ZWS. GAMMA Investing LLC lifted its position in Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after acquiring an additional 544 shares in the last quarter. Atala Financial Inc purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at about $44,000. Tsfg LLC purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at about $56,000. Tortoise Investment Management LLC increased 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 valued at $65,000 after buying an additional 755 shares during the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at about $82,000. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $37.46 on Wednesday. Zurn Elkay Water Solutions Co. has a 52-week low of $27.74 and a 52-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. The company has a market capitalization of $6.30 billion, a P/E ratio of 40.72, a P/E/G ratio of 2.01 and a beta of 1.02. The company has a fifty day moving average of $32.66 and a 200-day moving average of $36.08.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. During the same period in the previous year, the firm posted $0.29 EPS. As a group, equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Tuesday, May 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 36.36%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group decreased their price objective 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. Stifel Nicolaus lifted their price objective 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. Robert W. Baird cut their price target on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Finally, BNP Paribas downgraded shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 price target for the company. in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.43.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the business’s stock in a transaction on 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 sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the business’s 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

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.