ExodusPoint Capital Management LP Acquires Shares of 13,036 Zurn Elkay Water Solutions Co. (NYSE:ZWS)

ExodusPoint Capital Management LP bought a new position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 13,036 shares of the company’s stock, valued at approximately $486,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in Zurn Elkay Water Solutions by 11.2% during the third quarter. FMR LLC now owns 14,070 shares of the company’s stock worth $506,000 after buying an additional 1,416 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Zurn Elkay Water Solutions by 7.8% in the 3rd quarter. Captrust Financial Advisors now owns 7,832 shares of the company’s stock worth $281,000 after acquiring an additional 570 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Zurn Elkay Water Solutions by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock worth $293,000 after purchasing an additional 259 shares during the period. MML Investors Services LLC grew its holdings in Zurn Elkay Water Solutions by 2.5% during the 3rd quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock valued at $650,000 after purchasing an additional 449 shares during the last quarter. Finally, Barclays PLC raised its position in Zurn Elkay Water Solutions by 85.7% in the 3rd quarter. Barclays PLC now owns 304,731 shares of the company’s stock worth $10,952,000 after purchasing an additional 140,624 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Trading Up 0.7 %

Shares of NYSE ZWS opened at $29.40 on Friday. Zurn Elkay Water Solutions Co. has a twelve month low of $27.74 and a twelve month high of $41.15. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $33.82 and a two-hundred day simple moving average of $36.57. The firm has a market cap of $4.96 billion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data 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 net margin of 10.23% and a return on equity of 14.03%. Analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s payout ratio is 39.13%.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, January 24th. The Goldman Sachs Group cut their price objective on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, BNP Paribas downgraded Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 target price for the company. in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of “Hold” and an average target price of $36.43.

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.