Fort Washington Investment Advisors Inc. OH Purchases 166,080 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Fort Washington Investment Advisors Inc. OH grew its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 45.2% during the first quarter, HoldingsChannel.com reports. The fund owned 533,849 shares of the company’s stock after acquiring an additional 166,080 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Zurn Elkay Water Solutions were worth $17,606,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ZWS. Atala Financial Inc bought a new position in shares of Zurn Elkay Water Solutions during the 4th quarter valued at approximately $44,000. Tortoise Investment Management LLC lifted its position in Zurn Elkay Water Solutions by 77.4% during the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock valued at $65,000 after purchasing an additional 755 shares during the last quarter. Caisse Des Depots ET Consignations bought a new position in Zurn Elkay Water Solutions during the fourth quarter valued at $82,000. Central Pacific Bank Trust Division grew its stake in shares of Zurn Elkay Water Solutions by 31.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company’s stock worth $145,000 after buying an additional 1,040 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Zurn Elkay Water Solutions by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company’s stock worth $205,000 after buying an additional 344 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Down 0.9%

Shares of NYSE ZWS opened at $35.99 on Friday. Zurn Elkay Water Solutions Co. has a 1 year low of $27.74 and a 1 year high of $41.15. The firm has a 50-day simple moving average of $34.12 and a two-hundred day simple moving average of $35.78. The company has a market cap of $6.06 billion, a P/E ratio of 39.12, a PEG ratio of 2.01 and a beta of 1.00. 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 results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. The firm had revenue of $388.80 million for the quarter, compared to the consensus estimate of $383.87 million. During the same period in the prior year, the business posted $0.29 earnings per share. Research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.00%. Zurn Elkay Water Solutions’s payout ratio is 36.36%.

Analyst Ratings Changes

A number of brokerages recently commented on ZWS. Robert W. Baird lowered 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. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions in a research report on Friday, May 16th. Stifel Nicolaus raised their price objective on 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. BNP Paribas downgraded Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group decreased their price target on 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and a consensus target price of $36.29.

Insider Transactions at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 2,706 shares of the company’s stock in a transaction dated 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 directly owns 60,772 shares in the company, valued at approximately $2,255,248.92. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sudhanshu Chhabra sold 25,921 shares of Zurn Elkay Water Solutions 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 sale, the vice president now owns 94,132 shares of the company’s stock, valued at $3,500,769.08. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

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.