Man Group plc Grows Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Man Group plc lifted its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 53.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,559 shares of the company’s stock after purchasing an additional 24,008 shares during the quarter. Man Group plc’s holdings in Zurn Elkay Water Solutions were worth $2,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZWS. Barclays PLC raised its position in shares of Zurn Elkay Water Solutions by 85.7% in the 3rd quarter. Barclays PLC now owns 304,731 shares of the company’s stock valued at $10,952,000 after purchasing an additional 140,624 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at approximately $556,000. Exchange Traded Concepts LLC raised its position in shares of Zurn Elkay Water Solutions by 986.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 26,237 shares of the company’s stock valued at $979,000 after purchasing an additional 23,823 shares during the last quarter. Crescent Grove Advisors LLC raised its position in shares of Zurn Elkay Water Solutions by 5.7% in the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company’s stock valued at $90,842,000 after purchasing an additional 130,732 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Zurn Elkay Water Solutions by 53.9% in the 4th quarter. KBC Group NV now owns 6,122 shares of the company’s stock valued at $228,000 after purchasing an additional 2,144 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zurn Elkay Water Solutions

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $37.19, for a total transaction of $964,001.99. Following the transaction, the vice president now owns 94,132 shares in the company, valued at $3,500,769.08. This trade represents a 21.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David J. Pauli sold 2,706 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total value of $100,419.66. Following the transaction, the chief financial officer now owns 60,772 shares in the company, valued at $2,255,248.92. This trade represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ZWS. Stifel Nicolaus increased 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 report on Thursday, April 24th. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions in a report on Friday, May 16th. The Goldman Sachs Group cut their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. 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 on the stock 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 on the stock. in a report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and a consensus price target of $36.29.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS opened at $35.77 on Friday. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 38.88, 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 firm’s 50 day simple moving average is $33.11 and its 200-day simple moving average is $36.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $388.80 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $0.29 EPS. Analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s payout ratio is 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.