Fifth Third Wealth Advisors LLC Invests $247,000 in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Fifth Third Wealth Advisors LLC acquired a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,621 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in 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 valued at $386,286,000 after purchasing an additional 265,857 shares during the period. Impax Asset Management Group plc grew 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 buying an additional 346,412 shares in the last quarter. State Street Corp increased its stake in Zurn Elkay Water Solutions by 63.8% in the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after acquiring an additional 2,119,777 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock valued at $117,060,000 after acquiring an additional 35,570 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after acquiring an additional 868,748 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $38.13 on Friday. The firm has a fifty day simple moving average of $38.65 and a two-hundred day simple moving average of $35.06. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a twelve month low of $28.08 and a twelve month high of $41.15. The company has a market capitalization of $6.47 billion, a PE ratio of 48.27, a P/E/G ratio of 1.69 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its 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 analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. Zurn Elkay Water Solutions’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. Research analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is presently 45.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of 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. 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. Robert W. Baird increased their target price on 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. Finally, Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.50.

Insider Activity at Zurn Elkay Water Solutions

In related news, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the transaction, the chief executive officer now owns 2,242,867 shares in the company, valued at $89,333,392.61. The trade was a 5.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the sale, the vice president now 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 position. The disclosure for this sale can be found here. Insiders sold 127,202 shares of company stock worth $5,061,558 in the last three months. 3.00% of the stock is owned by insiders.

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.