PDT Partners LLC Invests $2.96 Million in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

PDT Partners LLC bought a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the third quarter, HoldingsChannel reports. The fund bought 82,329 shares of the company’s stock, valued at approximately $2,959,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC grew 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 valued at $386,286,000 after acquiring an additional 265,857 shares in 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 valued at $315,645,000 after purchasing an additional 346,412 shares during the last quarter. Principal Financial Group Inc. grew its stake in Zurn Elkay Water Solutions by 49.6% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Zurn Elkay Water Solutions by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,859,433 shares of the company’s stock worth $66,828,000 after purchasing an additional 65,426 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after purchasing an additional 465,701 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the sale, the director now owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. This trade represents a 3.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total value of $1,720,300.05. Following the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at $2,608,915.05. This trade represents a 39.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,688 shares of company stock worth $8,400,151. 3.80% of the stock is currently owned by corporate insiders.

Zurn Elkay Water Solutions Price Performance

NYSE:ZWS opened at $39.82 on Friday. The company has a market cap of $6.76 billion, a P/E ratio of 50.41, a P/E/G ratio of 2.01 and a beta of 1.14. The firm’s fifty day moving average price is $37.41 and its two-hundred day moving average price is $33.33. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $40.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same period in the prior year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be issued a $0.09 dividend. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Oppenheimer increased their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their price objective on shares of 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. Mizuho boosted 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 research note on Thursday, October 31st. Finally, Stifel Nicolaus raised their target price on shares of 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. Four 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, Zurn Elkay Water Solutions currently has an average rating of “Hold” and an average price target of $38.17.

Zurn Elkay Water Solutions 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.