Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Purchased by Invesco Ltd.

Invesco Ltd. grew its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 26.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,880,302 shares of the company’s stock after acquiring an additional 1,242,642 shares during the quarter. Invesco Ltd. owned about 3.46% of Zurn Elkay Water Solutions worth $219,335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC lifted its holdings in Zurn Elkay Water Solutions by 11.2% in the third quarter. FMR LLC now owns 14,070 shares of the company’s stock worth $506,000 after purchasing an additional 1,416 shares during the period. Captrust Financial Advisors raised its position in shares of Zurn Elkay Water Solutions by 7.8% during the 3rd quarter. Captrust Financial Advisors now owns 7,832 shares of the company’s stock worth $281,000 after buying an additional 570 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Zurn Elkay Water Solutions by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock worth $293,000 after acquiring an additional 259 shares during the period. State Street Corp lifted its stake in shares of 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 period. Finally, MML Investors Services LLC raised its holdings in Zurn Elkay Water Solutions by 2.5% during the third quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock worth $650,000 after purchasing an additional 449 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group decreased their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Stifel Nicolaus raised their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Finally, BNP Paribas cut shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research report on Wednesday. Five research 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 an average target price of $36.43.

Insider Activity

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the transaction, the insider now owns 15,002,819 shares in the company, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of the sale, the chief financial officer now owns 59,410 shares of the company’s stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $29.40 on Friday. 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 company has a market cap of $4.96 billion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.74 and a fifty-two week high of $41.15. The firm’s 50 day simple moving average is $33.82 and its 200-day simple moving average is $36.57.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping 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 predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced 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 1.22%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is 39.13%.

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.