Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Bought by MML Investors Services LLC

MML Investors Services LLC grew its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,077 shares of the company’s stock after acquiring an additional 449 shares during the period. MML Investors Services LLC’s holdings in Zurn Elkay Water Solutions were worth $650,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Sei Investments Co. raised its position in Zurn Elkay Water Solutions by 11.1% during the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock worth $6,209,000 after acquiring an additional 21,081 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in shares of Zurn Elkay Water Solutions by 23.1% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock worth $3,323,000 after purchasing an additional 17,350 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Zurn Elkay Water Solutions by 209.9% during the 2nd quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock valued at $2,411,000 after buying an additional 55,970 shares during the last quarter. Impax Asset Management Group plc grew its holdings in Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after buying an additional 346,412 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in Zurn Elkay Water Solutions during the third quarter worth $10,947,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZWS. Robert W. Baird upped their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Mizuho raised their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Oppenheimer boosted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of “Moderate Buy” and an average price target of $38.50.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now owns 345,017 shares in the company, valued at $12,969,189.03. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David J. Pauli sold 4,070 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $159,340.50. Following the completion of the sale, the chief financial officer now owns 47,572 shares of the company’s stock, valued at approximately $1,862,443.80. This trade represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,202 shares of company stock worth $5,813,358 over the last three months. 3.80% of the stock is owned by insiders.

Zurn Elkay Water Solutions Trading Up 0.9 %

NYSE ZWS opened at $37.48 on Friday. The company has a market cap of $6.36 billion, a P/E ratio of 47.44, a P/E/G ratio of 2.02 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 12 month low of $27.55 and a 12 month high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The company has a 50-day moving average of $38.56 and a 200-day moving average of $34.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same quarter last year, the firm posted $0.29 earnings per share. Zurn Elkay Water Solutions’s revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s payout ratio is 45.57%.

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.