Alpha DNA Investment Management LLC Takes $471,000 Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Alpha DNA Investment Management LLC acquired a new position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 13,119 shares of the company’s stock, valued at approximately $471,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in shares of Zurn Elkay Water Solutions by 11.1% in the 2nd quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock valued at $6,209,000 after purchasing an additional 21,081 shares during the period. Global Alpha Capital Management Ltd. increased its stake in Zurn Elkay Water Solutions by 23.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock valued at $3,323,000 after buying an additional 17,350 shares during the period. Hsbc Holdings PLC lifted its position in Zurn Elkay Water Solutions by 209.9% in the 2nd quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock worth $2,411,000 after buying an additional 55,970 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after buying an additional 346,412 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Zurn Elkay Water Solutions during the 2nd quarter valued at $431,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZWS. Deutsche Bank Aktiengesellschaft increased their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer lifted their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Mizuho boosted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.17.

Zurn Elkay Water Solutions Trading Up 1.5 %

NYSE:ZWS opened at $39.93 on Monday. The company’s 50 day moving average is $36.85 and its 200-day moving average is $33.09. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 12 month low of $27.55 and a 12 month high of $40.64. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 50.54, a P/E/G ratio of 2.02 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The firm had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same quarter last year, the firm posted $0.29 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.09 per share. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.36 annualized dividend and a yield of 0.90%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.57%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 4,070 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the sale, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This trade represents a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the transaction, the vice president now directly owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. This trade represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,688 shares of company stock valued at $8,400,151 in the last 90 days. 3.00% of the stock is currently owned by 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.