Louisiana State Employees Retirement System Decreases Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Louisiana State Employees Retirement System cut its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 68,900 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Zurn Elkay Water Solutions were worth $2,570,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Bleakley Financial Group LLC raised its holdings in Zurn Elkay Water Solutions by 3.9% in the fourth quarter. Bleakley Financial Group LLC now owns 21,690 shares of the company’s stock worth $809,000 after buying an additional 819 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Zurn Elkay Water Solutions by 3.2% during the fourth quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company’s stock valued at $319,000 after purchasing an additional 269 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 78.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,294 shares of the company’s stock valued at $235,000 after purchasing an additional 2,769 shares during the last quarter. KBC Group NV raised its holdings in shares of Zurn Elkay Water Solutions by 53.9% during the fourth quarter. KBC Group NV now owns 6,122 shares of the company’s stock valued at $228,000 after purchasing an additional 2,144 shares during the last quarter. Finally, Crescent Grove Advisors LLC raised its holdings in shares of Zurn Elkay Water Solutions by 5.7% during the fourth quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company’s stock valued at $90,842,000 after purchasing an additional 130,732 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZWS has been the subject of several research reports. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, January 24th. Robert W. Baird boosted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho boosted their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Oppenheimer boosted 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $38.67.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE ZWS opened at $35.96 on Friday. The firm has a 50 day moving average of $38.24 and a 200 day moving average of $36.17. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 39.08, a price-to-earnings-growth ratio of 1.78 and a beta of 1.15. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (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%. On average, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.35 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Thursday, February 20th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.00%. Zurn Elkay Water Solutions’s payout ratio is currently 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.