Everpar Advisors LLC Invests $599,000 in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Everpar Advisors LLC bought a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,370 shares of the company’s stock, valued at approximately $599,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ZWS. Vestmark Advisory Solutions Inc. purchased a new position in Zurn Elkay Water Solutions in the fourth quarter valued at about $3,130,000. Axxcess Wealth Management LLC purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter worth approximately $278,000. Sapient Capital LLC purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter worth approximately $601,000. Natixis Advisors L.P. raised its stake in shares of Zurn Elkay Water Solutions by 57.1% during the 4th quarter. Natixis Advisors L.P. now owns 38,009 shares of the company’s stock worth $1,117,000 after acquiring an additional 13,811 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at approximately $42,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock traded up $0.20 during midday trading on Tuesday, hitting $32.32. 601,959 shares of the company were exchanged, compared to its average volume of 975,837. Zurn Elkay Water Solutions Co. has a fifty-two week low of $20.70 and a fifty-two week high of $34.58. The firm has a market capitalization of $5.58 billion, a PE ratio of 45.52, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21. The business has a fifty day simple moving average of $32.01 and a two-hundred day simple moving average of $30.34. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31.

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

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, May 20th will be paid a $0.08 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Wall Street Analyst Weigh In

ZWS has been the subject of several analyst reports. BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Oppenheimer upped their target price on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Finally, Mizuho cut Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.50.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 249,582 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $32.04, for a total value of $7,996,607.28. Following the sale, the insider now directly owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Sudhanshu Chhabra sold 4,231 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $31.29, for a total transaction of $132,387.99. Following the completion of the transaction, the vice president now owns 80,594 shares in the company, valued at approximately $2,521,786.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ice Mountain Llc sold 249,582 shares of Zurn Elkay Water Solutions stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the sale, the insider now owns 24,505,660 shares in the company, valued at $785,161,346.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 741,506 shares of company stock valued at $23,964,936. 3.00% 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.