EverSource Wealth Advisors LLC Buys New Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

EverSource Wealth Advisors LLC acquired a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,269 shares of the company’s stock, valued at approximately $273,000.

A number of other hedge funds also recently made changes to their positions in ZWS. Teacher Retirement System of Texas increased its position in Zurn Elkay Water Solutions by 87.1% in the third quarter. Teacher Retirement System of Texas now owns 21,137 shares of the company’s stock worth $592,000 after purchasing an additional 9,839 shares during the period. California Public Employees Retirement System lifted its position in Zurn Elkay Water Solutions by 20.5% during the 3rd quarter. California Public Employees Retirement System now owns 213,827 shares of the company’s stock worth $5,991,000 after buying an additional 36,307 shares in the last quarter. Victory Capital Management Inc. boosted its position in Zurn Elkay Water Solutions by 8.9% during the third quarter. Victory Capital Management Inc. now owns 22,024 shares of the company’s stock valued at $617,000 after purchasing an additional 1,795 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in Zurn Elkay Water Solutions during the third quarter worth $393,000. Finally, Jump Financial LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 3rd quarter valued at about $610,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insider Activity

In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the sale, the insider now owns 24,998,760 shares of the company’s stock, valued at approximately $804,460,096.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Ice Mountain Llc sold 50,172 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the completion of the sale, the insider now directly owns 24,998,760 shares in the company, valued at $804,460,096.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Christopoul sold 10,495 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $32.11, for a total value of $336,994.45. Following the transaction, the director now owns 104,844 shares of the company’s stock, valued at $3,366,540.84. The disclosure for this sale can be found here. Insiders sold 557,146 shares of company stock worth $17,892,301 over the last three months. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ZWS shares. BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price on the stock. Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.50.

Zurn Elkay Water Solutions Price Performance

ZWS stock traded up $0.07 during midday trading on Friday, reaching $31.81. The company had a trading volume of 24,898 shares, compared to its average volume of 921,102. The firm has a 50-day moving average price of $32.19 and a 200-day moving average price of $30.78. Zurn Elkay Water Solutions Co. has a 1 year low of $21.84 and a 1 year high of $34.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.95. The company has a market capitalization of $5.49 billion, a P/E ratio of 44.70, a P/E/G ratio of 1.68 and a beta of 1.21.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. On average, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, May 17th. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

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.