Thrivent Financial for Lutherans Buys New Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Thrivent Financial for Lutherans purchased a new position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 112,751 shares of the company’s stock, valued at approximately $4,052,000.

A number of other hedge funds have also recently added to or reduced their stakes in ZWS. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 2.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after purchasing an additional 265,857 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Zurn Elkay Water Solutions by 4.1% in the third 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 in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after buying an additional 868,748 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Zurn Elkay Water Solutions by 37.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after acquiring an additional 465,701 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Zurn Elkay Water Solutions by 4.5% during the third quarter. Raymond James & Associates now owns 1,433,580 shares of the company’s stock worth $51,523,000 after acquiring an additional 61,748 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, VP Jeffrey J. Lavalle sold 3,132 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the transaction, the vice president now directly owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. This trade represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction on 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 directly owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,688 shares of company stock valued at $8,400,151. 3.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock opened at $39.93 on Monday. The firm has a market capitalization of $6.78 billion, a P/E ratio of 50.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. 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 business’s fifty day simple moving average is $36.85 and its 200 day simple moving average is $33.09. Zurn Elkay Water Solutions Co. has a 12 month low of $27.55 and a 12 month high of $40.64.

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, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $410.00 million during the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. As a group, analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.57%.

Zurn Elkay Water Solutions Company Profile

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.