Deutsche Bank AG Increases Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Deutsche Bank AG lifted its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,150 shares of the company’s stock after acquiring an additional 16,892 shares during the period. Deutsche Bank AG owned 0.10% of Zurn Elkay Water Solutions worth $6,160,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Atala Financial Inc bought a new position in Zurn Elkay Water Solutions in the 4th quarter worth approximately $44,000. Tortoise Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 77.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after buying an additional 755 shares in the last quarter. Caisse Des Depots ET Consignations bought a new position in shares of Zurn Elkay Water Solutions during the fourth quarter worth $82,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in Zurn Elkay Water Solutions by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company’s stock valued at $205,000 after acquiring an additional 344 shares in the last quarter. Finally, Carret Asset Management LLC bought a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at $205,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Buying and Selling

In related news, VP Sudhanshu Chhabra sold 25,921 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $37.19, for a total transaction of $964,001.99. Following the transaction, the vice president now directly owns 94,132 shares in the company, valued at approximately $3,500,769.08. This represents a 21.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total transaction of $100,419.66. Following the completion of the sale, the chief financial officer now directly owns 60,772 shares in the company, valued at $2,255,248.92. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on ZWS shares. BNP Paribas downgraded shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 price objective for the company. in a report on Wednesday, April 9th. 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 research report on Thursday, April 24th. The Goldman Sachs Group cut their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.43.

Zurn Elkay Water Solutions Stock Up 1.6%

Shares of NYSE:ZWS opened at $37.61 on Friday. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 2.01 and a beta of 1.02. Zurn Elkay Water Solutions Co. has a 12 month low of $27.74 and a 12 month high of $41.15. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $32.83 and a 200 day moving average price of $36.10.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $388.80 million for the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. During the same period in the prior year, the business posted $0.29 earnings per share. As a group, equities research 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 declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. 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.