Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 3.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,690 shares of the company’s stock after buying an additional 819 shares during the period. Bleakley Financial Group LLC’s holdings in Zurn Elkay Water Solutions were worth $809,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp increased its holdings in Zurn Elkay Water Solutions by 63.8% in the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after acquiring an additional 2,119,777 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after purchasing an additional 868,748 shares during the period. Impax Asset Management Group plc increased its stake in shares of Zurn Elkay Water Solutions by 4.1% during the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after purchasing an additional 346,412 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Zurn Elkay Water Solutions by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock worth $58,077,000 after purchasing an additional 329,563 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in Zurn Elkay Water Solutions in the 3rd quarter valued at about $10,947,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ZWS shares. Mizuho boosted their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Robert W. Baird lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Oppenheimer increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

Zurn Elkay Water Solutions Stock Performance

NYSE:ZWS opened at $38.19 on Monday. The company’s 50-day moving average is $38.46 and its two-hundred day moving average is $36.06. Zurn Elkay Water Solutions Co. has a 1-year low of $28.25 and a 1-year high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 41.51, a PEG ratio of 1.78 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.01%. Analysts forecast that Zurn Elkay Water Solutions Co. will post 1.35 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Thursday, February 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 20th. Zurn Elkay Water Solutions’s payout ratio is 39.13%.

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.