75,032 Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS) Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 75,032 shares of the company’s stock, valued at approximately $2,799,000.

A number of other institutional investors have also bought and sold shares of ZWS. GAMMA Investing LLC grew its position in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after purchasing an additional 544 shares in the last quarter. Tsfg LLC acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth $56,000. KBC Group NV grew its holdings in Zurn Elkay Water Solutions by 20.9% in the 3rd quarter. KBC Group NV now owns 3,978 shares of the company’s stock valued at $143,000 after buying an additional 688 shares in the last quarter. Millburn Ridgefield Corp increased its stake in shares of Zurn Elkay Water Solutions by 1,152.5% in the 3rd quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock worth $186,000 after acquiring an additional 4,760 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Zurn Elkay Water Solutions during the 3rd quarter worth $234,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Down 0.3 %

Shares of NYSE ZWS opened at $35.09 on Friday. The business has a 50-day moving average of $37.32 and a two-hundred day moving average of $36.48. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. 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 2.91 and a quick ratio of 1.81.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate 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%. On average, analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 20th. Zurn Elkay Water Solutions’s payout ratio is 39.13%.

Insider Activity at Zurn Elkay Water Solutions

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZWS. Stifel Nicolaus upped 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 target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Mizuho increased their price target 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $38.67.

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.