Charles Schwab Investment Management Inc. Grows Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Charles Schwab Investment Management Inc. lifted its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,859,433 shares of the company’s stock after acquiring an additional 65,426 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.10% of Zurn Elkay Water Solutions worth $66,828,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC increased its stake in shares of Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after purchasing an additional 373 shares in the last quarter. Quarry LP grew its stake in Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Zurn Elkay Water Solutions during the 2nd quarter valued at $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions during the third quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Zurn Elkay Water Solutions by 732.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after acquiring an additional 1,267 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ZWS shares. Stifel Nicolaus boosted their price objective on 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. Mizuho increased their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird raised 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. Oppenheimer upped their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.17.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, VP Jeffrey J. Lavalle sold 3,132 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the sale, the vice president now directly owns 35,422 shares of the company’s stock, valued at $1,386,771.30. The trade was a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the sale, the vice president now owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. The trade was a 39.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock worth $8,400,151 in the last quarter. 3.80% of the stock is owned by insiders.

Zurn Elkay Water Solutions Trading Down 0.1 %

Shares of ZWS opened at $39.68 on Friday. 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 Co. has a 1-year low of $27.55 and a 1-year high of $40.64. The company has a market capitalization of $6.73 billion, a P/E ratio of 50.23, a P/E/G ratio of 2.04 and a beta of 1.14. The firm’s 50 day simple moving average is $37.31 and its 200 day simple moving average is $33.28.

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

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.57%.

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.