Police & Firemen s Retirement System of New Jersey Grows Stock Position in Zurn Elkay Water Solutions Cor $ZWS

Police & Firemen s Retirement System of New Jersey grew its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 34,104 shares of the company’s stock after purchasing an additional 2,656 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Zurn Elkay Water Solutions Cor were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in ZWS. Whittier Trust Co. bought a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at about $26,000. First Horizon Advisors Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 249.8% in the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 3,687.2% in the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock valued at $59,000 after purchasing an additional 1,733 shares during the period. CWM LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 33.8% in the second quarter. CWM LLC now owns 1,799 shares of the company’s stock valued at $66,000 after purchasing an additional 454 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 137.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,262 shares of the company’s stock valued at $83,000 after buying an additional 1,310 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Activity

In related news, Director Timothy J. Jahnke sold 7,461 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $47.50, for a total value of $354,397.50. Following the completion of the transaction, the director directly owned 162,000 shares in the company, valued at approximately $7,695,000. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 40,100 shares of company stock worth $1,911,084. Insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $46.60 on Friday. The stock has a market cap of $7.80 billion, a P/E ratio of 41.61, a PEG ratio of 2.57 and a beta of 1.12. The company has a quick ratio of 1.72, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $46.73 and its two-hundred day moving average price is $42.11. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $50.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $455.40 million for the quarter, compared to analysts’ expectations of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. As a group, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Thursday, November 20th will be given a dividend of $0.11 per share. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 39.29%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Oppenheimer set a $53.00 target price on Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions Cor presently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

About Zurn Elkay Water Solutions Cor

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.