Norges Bank Takes $61.41 Million Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Norges Bank purchased a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,646,431 shares of the company’s stock, valued at approximately $61,412,000.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after purchasing an additional 544 shares in the last quarter. Atala Financial Inc acquired a new stake in Zurn Elkay Water Solutions during the fourth quarter valued at $44,000. Tsfg LLC purchased a new position in Zurn Elkay Water Solutions in the fourth quarter valued at about $56,000. Tortoise Investment Management LLC raised its stake in shares of Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after purchasing an additional 755 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at about $82,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zurn Elkay Water Solutions

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 stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the sale, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $30.66 on Friday. Zurn Elkay Water Solutions Co. has a 1-year low of $28.25 and a 1-year high of $41.15. The firm has a fifty day simple moving average of $35.40 and a 200-day simple moving average of $36.85. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. On average, sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 39.13%.

Wall Street Analyst Weigh In

ZWS has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, January 24th. The Goldman Sachs Group cut their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $37.67.

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.