Summit Investment Advisors Inc. Grows Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Summit Investment Advisors Inc. increased its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,070 shares of the company’s stock after acquiring an additional 477 shares during the period. Summit Investment Advisors Inc.’s holdings in Zurn Elkay Water Solutions were worth $562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after acquiring an additional 544 shares during the last quarter. Atala Financial Inc bought a new position in Zurn Elkay Water Solutions during the 4th quarter valued at about $44,000. Tsfg LLC purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter worth about $56,000. Tortoise Investment Management LLC lifted its stake in Zurn Elkay Water Solutions by 77.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after purchasing an additional 755 shares during the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Zurn Elkay Water Solutions during the fourth quarter valued at approximately $82,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the transaction, the insider now owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. The trade was a 37.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ZWS shares. The Goldman Sachs Group reduced 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. Stifel Nicolaus upgraded Zurn Elkay Water Solutions from a “hold” rating to a “buy” rating and decreased their target price for the stock from $39.00 to $34.00 in a research report on Wednesday. Finally, BNP Paribas cut 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions has an average rating of “Hold” and an average price target of $35.71.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock opened at $30.04 on Friday. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 2.01 and a beta of 1.08. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a twelve month low of $27.74 and a twelve month high of $41.15. The stock has a fifty day simple moving average of $33.01 and a two-hundred day simple moving average of $36.36.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. On average, analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.20%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

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.