King Luther Capital Management Corp Has $6.32 Million Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

King Luther Capital Management Corp increased its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 169,490 shares of the company’s stock after purchasing an additional 531 shares during the period. King Luther Capital Management Corp’s holdings in Zurn Elkay Water Solutions were worth $6,322,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc lifted its stake in shares of Zurn Elkay Water Solutions by 4.1% in the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after buying an additional 346,412 shares during the last quarter. State Street Corp lifted its holdings in shares of Zurn Elkay Water Solutions by 63.8% during the third quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after buying an additional 2,119,777 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Zurn Elkay Water Solutions by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock valued at $117,060,000 after purchasing an additional 35,570 shares during the period. Principal Financial Group Inc. lifted its stake 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 buying an additional 868,748 shares during the period. Finally, Crescent Grove Advisors LLC grew its holdings in shares of Zurn Elkay Water Solutions by 5.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company’s stock worth $90,842,000 after purchasing an additional 130,732 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock opened at $33.16 on Wednesday. The stock’s fifty day moving average is $36.82 and its 200-day moving average is $36.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. Zurn Elkay Water Solutions Co. has a 52 week low of $28.25 and a 52 week high of $41.15. The stock has a market capitalization of $5.64 billion, a PE ratio of 36.04, a PEG ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. Equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.09%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 39.13%.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions has an average rating of “Moderate Buy” and a consensus target price of $38.67.

Insider Buying and Selling

In related news, CFO David J. Pauli sold 8,390 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now directly owns 59,410 shares in the company, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the transaction, the insider now directly owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Company Profile

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.