State of New Jersey Common Pension Fund D Has $2.22 Million Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

State of New Jersey Common Pension Fund D lifted its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,813 shares of the company’s stock after purchasing an additional 1,594 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Zurn Elkay Water Solutions were worth $2,222,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Sei Investments Co. lifted its position in shares of Zurn Elkay Water Solutions by 11.1% in the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock worth $6,209,000 after buying an additional 21,081 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Zurn Elkay Water Solutions by 209.9% in the 2nd quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock worth $2,411,000 after purchasing an additional 55,970 shares during the last quarter. Impax Asset Management Group plc boosted its position in Zurn Elkay Water Solutions by 4.1% during the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after purchasing an additional 346,412 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of Zurn Elkay Water Solutions in the second quarter valued at approximately $431,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the second quarter worth $1,068,000. 83.33% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the sale, the chief executive officer now owns 2,242,867 shares in the company, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jeffrey J. Lavalle sold 3,132 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the transaction, the vice president now owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. The trade was a 8.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,688 shares of company stock worth $8,400,151. Company insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

ZWS opened at $38.89 on Friday. The stock’s 50 day simple moving average is $35.81 and its 200-day simple moving average is $32.72. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.60 billion, a PE ratio of 49.89, a P/E/G ratio of 1.99 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 1 year low of $27.55 and a 1 year high of $40.64.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $406.15 million. During the same quarter in the prior year, the company posted $0.29 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is presently 40.51%.

Analyst Ratings Changes

A number of research firms recently issued reports on ZWS. Robert W. Baird raised their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho lifted their price objective on 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. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.17.

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.