Wintrust Investments LLC Boosts Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Wintrust Investments LLC boosted its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 94.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,331 shares of the company’s stock after buying an additional 12,276 shares during the period. Zurn Elkay Water Solutions accounts for about 0.8% of Wintrust Investments LLC’s investment portfolio, making the stock its 27th biggest holding. Wintrust Investments LLC’s holdings in Zurn Elkay Water Solutions were worth $944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Impax Asset Management Group plc lifted its holdings 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 during the period. State Street Corp lifted its holdings in shares of Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock valued at $195,585,000 after purchasing an additional 2,119,777 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock valued at $117,060,000 after purchasing an additional 35,570 shares during the last quarter. Principal Financial Group Inc. lifted its holdings 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 purchasing an additional 868,748 shares during the last quarter. Finally, Crescent Grove Advisors LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 5.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company’s stock valued at $90,842,000 after purchasing an additional 130,732 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Activity

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the sale, the insider now directly owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Zurn Elkay Water Solutions currently has an average rating of “Hold” and an average target price of $38.40.

Zurn Elkay Water Solutions Price Performance

NYSE ZWS opened at $32.79 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The stock’s fifty day moving average price is $36.73 and its 200 day moving average price is $36.72. Zurn Elkay Water Solutions Co. has a 1 year low of $28.25 and a 1 year high of $41.15. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. As a group, equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

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.