Bleakley Financial Group LLC Makes New Investment in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Bleakley Financial Group LLC bought a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 18,889 shares of the company’s stock, valued at approximately $556,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in Zurn Elkay Water Solutions by 16.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter valued at about $125,000. International Assets Investment Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 51,600.0% during the fourth quarter. International Assets Investment Management LLC now owns 29,469 shares of the company’s stock valued at $867,000 after buying an additional 29,412 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Zurn Elkay Water Solutions by 85.4% during the fourth quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock valued at $93,000 after buying an additional 1,517 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of Zurn Elkay Water Solutions by 1,622.8% during the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock valued at $36,592,000 after buying an additional 1,171,985 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock opened at $31.91 on Friday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 49.09, a PEG ratio of 1.78 and a beta of 1.22. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $31.97 and a 200 day moving average price of $29.73. Zurn Elkay Water Solutions Co. has a 52 week low of $20.06 and a 52 week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The company had revenue of $356.80 million for the quarter, compared to the consensus estimate of $350.55 million. During the same quarter in the prior year, the company earned $0.16 EPS. Zurn Elkay Water Solutions’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were issued a $0.08 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.32 annualized dividend and a yield of 1.00%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 49.23%.

Analyst Ratings Changes

Several analysts have commented on the stock. BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Friday, February 9th. Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Stifel Nicolaus lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Tuesday, December 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.75.

Insider Buying and Selling

In related news, CFO Mark W. Peterson sold 70,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.88, for a total value of $2,301,600.00. Following the transaction, the chief financial officer now owns 302,299 shares in the company, valued at approximately $9,939,591.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Todd A. Adams sold 129,604 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the completion of the transaction, the chief executive officer now directly owns 1,828,550 shares of the company’s stock, valued at approximately $60,451,863. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Peterson sold 70,000 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.88, for a total transaction of $2,301,600.00. Following the transaction, the chief financial officer now directly owns 302,299 shares of the company’s stock, valued at $9,939,591.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 343,243 shares of company stock worth $11,217,501. 3.80% of the stock is owned by company insiders.

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.