Simplicity Solutions LLC Invests $545,000 in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Simplicity Solutions LLC bought a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,544 shares of the company’s stock, valued at approximately $545,000.

Other large investors have also modified their holdings of the company. NewEdge Wealth LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter worth approximately $3,130,000. Sapient Capital LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter worth approximately $601,000. International Assets Investment Management LLC grew its holdings in shares of Zurn Elkay Water Solutions by 51,600.0% in the 4th quarter. International Assets Investment Management LLC now owns 29,469 shares of the company’s stock worth $867,000 after acquiring an additional 29,412 shares during the period. Bleakley Financial Group LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter worth approximately $556,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Zurn Elkay Water Solutions by 16.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michael Troutman sold 897 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.70, for a total value of $27,537.90. Following the completion of the sale, the insider now owns 43,026 shares of the company’s stock, valued at $1,320,898.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Michael Troutman sold 897 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.70, for a total value of $27,537.90. Following the transaction, the insider now owns 43,026 shares in the company, valued at $1,320,898.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ice Mountain Llc sold 103,768 shares of Zurn Elkay Water Solutions stock in a transaction on Monday, April 15th. The shares were sold at an average price of $31.96, for a total value of $3,316,425.28. Following the completion of the transaction, the insider now owns 24,798,932 shares in the company, valued at approximately $792,573,866.72. The disclosure for this sale can be found here. Insiders sold a total of 448,234 shares of company stock valued at $14,573,307 over the last quarter. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Mizuho cut Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Friday, February 9th. Oppenheimer upped their price target on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, BNP Paribas initiated coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.75.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE:ZWS opened at $31.62 on Friday. The business’s fifty day moving average price is $31.91 and its two-hundred day moving average price is $29.81. The stock has a market cap of $5.47 billion, a PE ratio of 48.65, a price-to-earnings-growth ratio of 1.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.02. Zurn Elkay Water Solutions Co. has a one year low of $20.06 and a one year high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $356.80 million during the quarter, compared to the consensus estimate of $350.55 million. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. On average, analysts forecast that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 49.23%.

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.