Triodos Investment Management BV Raises Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Triodos Investment Management BV grew its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 12.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,000 shares of the company’s stock after buying an additional 5,000 shares during the quarter. Triodos Investment Management BV’s holdings in Zurn Elkay Water Solutions were worth $1,352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ZWS. International Assets Investment Management LLC boosted its stake in Zurn Elkay Water Solutions by 51,600.0% during the 4th quarter. International Assets Investment Management LLC now owns 29,469 shares of the company’s stock valued at $867,000 after purchasing an additional 29,412 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Zurn Elkay Water Solutions by 13.9% during the fourth quarter. California Public Employees Retirement System now owns 243,469 shares of the company’s stock valued at $7,160,000 after buying an additional 29,642 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Zurn Elkay Water Solutions by 2.7% in the 4th quarter. New York State Common Retirement Fund now owns 60,571 shares of the company’s stock worth $1,781,000 after buying an additional 1,602 shares in the last quarter. Truist Financial Corp purchased a new position in Zurn Elkay Water Solutions in the 4th quarter worth about $5,608,000. Finally, Victory Capital Management Inc. lifted its stake in Zurn Elkay Water Solutions by 2,065.2% during the 4th quarter. Victory Capital Management Inc. now owns 476,854 shares of the company’s stock valued at $14,024,000 after acquiring an additional 454,830 shares during the period. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded up $0.20 on Friday, reaching $32.43. The company’s stock had a trading volume of 531,458 shares, compared to its average volume of 624,317. The stock’s 50 day simple moving average is $30.72 and its two-hundred day simple moving average is $31.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. The stock has a market capitalization of $5.60 billion, a P/E ratio of 45.68, a PEG ratio of 1.75 and a beta of 1.15. Zurn Elkay Water Solutions Co. has a 12-month low of $25.09 and a 12-month high of $34.58.

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. The business had revenue of $412.00 million for the quarter, compared to analysts’ expectations of $409.14 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. Research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, August 20th. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, major shareholder Aimee Katz sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the completion of the transaction, the insider now directly owns 23,574,164 shares in the company, valued at approximately $684,593,722.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Aimee Katz sold 100,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the sale, the insider now directly owns 23,574,164 shares in the company, valued at approximately $684,593,722.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ice Mountain Llc sold 36,938 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $30.44, for a total transaction of $1,124,392.72. Following the completion of the transaction, the insider now directly owns 23,682,793 shares of the company’s stock, valued at approximately $720,904,218.92. The disclosure for this sale can be found here. Insiders have sold 149,951 shares of company stock valued at $4,424,854 over the last quarter. 3.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on ZWS shares. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their target price 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.17.

Zurn Elkay Water Solutions Company 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.