Heritage Family Offices LLP grew its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS – Free Report) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,575 shares of the company’s stock after buying an additional 517 shares during the period. Heritage Family Offices LLP’s holdings in Zurn Elkay Water Solutions were worth $382,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ZWS. First Trust Advisors LP lifted its holdings in shares of Zurn Elkay Water Solutions by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company’s stock worth $132,661,000 after acquiring an additional 2,304,285 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter worth about $80,457,000. Norges Bank purchased a new position in shares of Zurn Elkay Water Solutions during the 4th quarter valued at about $61,412,000. Invesco Ltd. lifted its position in Zurn Elkay Water Solutions by 26.8% in the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company’s stock worth $219,335,000 after buying an additional 1,242,642 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Zurn Elkay Water Solutions by 58.6% in the 4th quarter. Ameriprise Financial Inc. now owns 985,576 shares of the company’s stock valued at $36,762,000 after purchasing an additional 364,142 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.
Insider Buying and Selling
In related news, CFO David J. Pauli sold 2,706 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 owns 60,772 shares of the company’s stock, valued at $2,255,248.92. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sudhanshu Chhabra sold 25,921 shares of the business’s 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 completion of the transaction, the vice president now owns 94,132 shares of the company’s stock, valued at approximately $3,500,769.08. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
Zurn Elkay Water Solutions Stock Performance
Zurn Elkay Water Solutions (NYSE:ZWS – Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $388.80 million for the quarter, compared to analyst estimates 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 previous year, the company posted $0.29 earnings per share. On average, analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.
Zurn Elkay Water Solutions Announces Dividend
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 given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, May 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 36.36%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on ZWS. Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Robert W. Baird dropped their target price on 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. BNP Paribas cut 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 note on Wednesday, April 9th. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions in a research note on Friday, May 16th. Finally, The Goldman Sachs Group cut their target price 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average target price of $36.29.
Read Our Latest Report on Zurn Elkay Water Solutions
About Zurn Elkay Water Solutions
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.
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