Kingsview Wealth Management LLC Invests $3.17 Million in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Kingsview Wealth Management LLC bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 96,114 shares of the company’s stock, valued at approximately $3,170,000. Kingsview Wealth Management LLC owned approximately 0.06% of Zurn Elkay Water Solutions Cor as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. HighTower Advisors LLC boosted its position in Zurn Elkay Water Solutions Cor by 9.2% during the fourth quarter. HighTower Advisors LLC now owns 8,834 shares of the company’s stock worth $329,000 after acquiring an additional 742 shares during the last quarter. Natixis Advisors LLC boosted its position in Zurn Elkay Water Solutions Cor by 60.5% during the fourth quarter. Natixis Advisors LLC now owns 21,267 shares of the company’s stock worth $793,000 after acquiring an additional 8,017 shares during the last quarter. Corient Private Wealth LLC boosted its position in Zurn Elkay Water Solutions Cor by 6.7% during the fourth quarter. Corient Private Wealth LLC now owns 13,903 shares of the company’s stock worth $519,000 after acquiring an additional 876 shares during the last quarter. Cibc World Markets Corp acquired a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth about $503,000. Finally, Xponance Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 22.8% in the 4th quarter. Xponance Inc. now owns 11,547 shares of the company’s stock valued at $431,000 after purchasing an additional 2,146 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Robert W. Baird reduced their price target on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. BNP Paribas downgraded shares of Zurn Elkay Water Solutions Cor 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. Finally, The Goldman Sachs Group reduced their price target on shares of Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.29.

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 value of $964,001.99. Following the completion of the sale, the vice president owned 94,132 shares of the company’s stock, valued at $3,500,769.08. This represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David J. Pauli sold 2,706 shares of the company’s 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 directly owned 60,772 shares of the company’s stock, valued at $2,255,248.92. The trade was a 4.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 0.5%

Shares of Zurn Elkay Water Solutions Cor stock opened at $37.53 on Friday. The company has a market cap of $6.31 billion, a P/E ratio of 37.91, a PEG ratio of 2.32 and a beta of 0.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.87. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $41.15. The firm has a fifty day moving average of $36.61 and a two-hundred day moving average of $35.36.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results 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. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. The business had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. During the same quarter last year, the firm posted $0.29 EPS. On average, analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Zurn Elkay Water Solutions Cor 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.