HighPoint Advisor Group LLC Invests $5.21 Million in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

HighPoint Advisor Group LLC acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWSFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 161,295 shares of the company’s stock, valued at approximately $5,213,000. HighPoint Advisor Group LLC owned approximately 0.09% of Zurn Elkay Water Solutions at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter worth approximately $34,000. Benjamin Edwards Inc. purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at $42,000. Assetmark Inc. increased its stake in Zurn Elkay Water Solutions by 32.9% in the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock valued at $85,000 after purchasing an additional 718 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Zurn Elkay Water Solutions by 85.4% during the fourth quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock worth $93,000 after buying an additional 1,517 shares during the last quarter. Finally, Arlington Trust Co LLC purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at approximately $125,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

ZWS has been the topic of a number of analyst reports. BNP Paribas started coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on 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. Finally, Oppenheimer increased their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions has an average rating of “Hold” and a consensus target price of $33.50.

Read Our Latest Stock Report on Zurn Elkay Water Solutions

Zurn Elkay Water Solutions Stock Down 0.3 %

Zurn Elkay Water Solutions stock traded down $0.08 during trading on Tuesday, reaching $30.70. 12,513 shares of the company’s stock were exchanged, compared to its average volume of 908,323. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 43.35, a PEG ratio of 1.60 and a beta of 1.19. The company’s 50-day moving average is $31.67 and its two-hundred day moving average is $30.98. Zurn Elkay Water Solutions Co. has a 52-week low of $25.09 and a 52-week high of $34.58. 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:ZWSGet Free Report) last announced its 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 return on equity of 11.85% and a net margin of 8.11%. The business had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. During the same period in the previous year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts predict that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, May 20th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.32 annualized dividend and a yield of 1.04%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 49,828 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $32.07, for a total transaction of $1,597,983.96. Following the sale, the insider now directly owns 24,948,932 shares of the company’s stock, valued at approximately $800,112,249.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Ice Mountain Llc sold 49,828 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $32.07, for a total transaction of $1,597,983.96. Following the completion of the sale, the insider now owns 24,948,932 shares of the company’s stock, valued at approximately $800,112,249.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas Christopoul sold 10,495 shares of Zurn Elkay Water Solutions 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 completion of 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 have sold 604,527 shares of company stock worth $19,408,291 in the last ninety days. 3.00% of the stock is owned by insiders.

Zurn Elkay Water Solutions Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zurn Elkay Water Solutions (NYSE:ZWS)

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