Handelsbanken Fonder AB Buys 15,900 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Handelsbanken Fonder AB grew its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 65.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,118 shares of the company’s stock after purchasing an additional 15,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Zurn Elkay Water Solutions were worth $1,180,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in Zurn Elkay Water Solutions by 70.9% during the third quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock worth $72,000 after purchasing an additional 1,064 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Zurn Elkay Water Solutions by 85.4% in the 4th quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock worth $93,000 after buying an additional 1,517 shares during the last quarter. Arlington Trust Co LLC purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter worth approximately $125,000. Nisa Investment Advisors LLC grew its holdings in shares of Zurn Elkay Water Solutions by 16.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock valued at $203,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions during the third quarter valued at approximately $207,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the sale, the chief executive officer now directly owns 1,828,550 shares of the company’s stock, valued at $60,451,863. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Mark W. Peterson sold 70,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $32.88, for a total value of $2,301,600.00. Following the completion of the transaction, the chief financial officer now directly owns 302,299 shares in the company, valued at approximately $9,939,591.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the transaction, the chief executive officer now directly owns 1,828,550 shares in the company, valued at $60,451,863. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 741,506 shares of company stock valued at $23,964,936. 3.00% of the stock is owned by corporate insiders.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $31.70 on Monday. The firm’s 50 day simple moving average is $31.95 and its 200 day simple moving average is $30.07. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1-year low of $20.06 and a 1-year high of $34.58. The firm has a market capitalization of $5.47 billion, a PE ratio of 44.65, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, analysts expect that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

Analyst Ratings Changes

A number of research firms have recently commented on ZWS. Oppenheimer lifted their target price on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Mizuho cut shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research note on Friday, February 9th. BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $33.50.

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.