New York State Teachers Retirement System Makes New $1.17 Million Investment in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

New York State Teachers Retirement System acquired a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 32,600 shares of the company’s stock, valued at approximately $1,172,000.

A number of other large investors also recently made changes to their positions in the business. Tortoise Investment Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after purchasing an additional 373 shares during the period. Quarry LP grew its stake in shares of 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 shares of Zurn Elkay Water Solutions in the 2nd quarter valued at approximately $29,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 3rd quarter valued at approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after buying an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Down 0.1 %

Shares of ZWS stock opened at $39.17 on Friday. Zurn Elkay Water Solutions Co. has a 12 month low of $27.55 and a 12 month high of $40.64. The firm has a market cap of $6.65 billion, a PE ratio of 49.58, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The stock has a 50 day moving average of $35.33 and a 200-day moving average of $32.56. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $410.00 million during the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. On average, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 EPS 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. Investors of record on Wednesday, November 20th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. This is a positive change 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 is presently 40.51%.

Analyst Upgrades and Downgrades

ZWS has been the subject of a number of recent analyst reports. Oppenheimer upped their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Robert W. Baird upped their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their target price on 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. Mizuho upped their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.17.

Insider Activity at Zurn Elkay Water Solutions

In related news, VP Sudhanshu Chhabra sold 52,851 shares of the company’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 completion of the transaction, the vice president now directly owns 80,151 shares in the company, valued at approximately $2,608,915.05. This 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 this hyperlink. In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $122,617.80. Following the transaction, the vice president now owns 35,422 shares of the company’s stock, valued at $1,386,771.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,688 shares of company stock worth $8,400,151. 3.80% of the stock is owned by corporate 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.