Handelsbanken Fonder AB Raises Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Handelsbanken Fonder AB lifted its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,118 shares of the company’s stock after purchasing an additional 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in Zurn Elkay Water Solutions were worth $1,765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its stake in shares of Zurn Elkay Water Solutions by 68.6% during the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock valued at $42,684,000 after acquiring an additional 518,733 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 valued at $49,846,000 after purchasing an additional 465,701 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 24.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock worth $51,485,000 after buying an additional 339,892 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Zurn Elkay Water Solutions by 2.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after buying an additional 265,857 shares in the last quarter. Finally, Wintrust Investments LLC increased its stake in shares of Zurn Elkay Water Solutions by 1,300.0% during the first quarter. Wintrust Investments LLC now owns 252,000 shares of the company’s stock valued at $8,434,000 after buying an additional 234,000 shares during the period. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS opened at $35.95 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.14 billion, a PE ratio of 50.63, a P/E/G ratio of 1.96 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 12 month low of $25.09 and a 12 month high of $36.86. The stock has a fifty day moving average price of $32.72 and a 200-day moving average price of $31.82.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The business had revenue of $412.00 million during the quarter, compared to the consensus estimate of $409.14 million. During the same quarter last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were paid a $0.08 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.07%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Three investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Insiders Place Their Bets

In other news, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Timothy J. Jahnke sold 10,035 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.00, for a total value of $351,225.00. Following the sale, the director now owns 374,982 shares in the company, valued at $13,124,370. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at $2,608,915.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,572 shares of company stock valued at $2,721,672. 3.80% of the stock is owned by company insiders.

About Zurn Elkay Water Solutions

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.