Nuveen Asset Management LLC Increases Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Posted by Defense World Staff on Mar 1st, 2023

Nuveen Asset Management LLC increased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS – Get Rating) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,147,878 shares of the company’s stock after purchasing an additional 19,588 shares during the period. Nuveen Asset Management LLC owned 0.65% of Zurn Elkay Water Solutions worth $28,123,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ZWS. Vanguard Group Inc. grew its holdings in Zurn Elkay Water Solutions by 3.7% in the first quarter. Vanguard Group Inc. now owns 11,162,033 shares of the company’s stock valued at $395,136,000 after purchasing an additional 393,392 shares during the period. Impax Asset Management Group plc lifted its stake in shares of Zurn Elkay Water Solutions by 8.3% in the 3rd quarter. Impax Asset Management Group plc now owns 10,932,007 shares of the company’s stock worth $267,247,000 after acquiring an additional 841,395 shares during the period. Macquarie Group Ltd. grew its holdings in Zurn Elkay Water Solutions by 1.8% during the second quarter. Macquarie Group Ltd. now owns 4,129,080 shares of the company’s stock worth $112,476,000 after acquiring an additional 73,658 shares during the period. Brown Advisory Inc. raised its position in shares of Zurn Elkay Water Solutions by 2.1% during the third quarter. Brown Advisory Inc. now owns 3,180,976 shares of the company’s stock worth $77,934,000 after purchasing an additional 66,039 shares during the period. Finally, Channing Capital Management LLC grew its stake in Zurn Elkay Water Solutions by 15.7% during the 3rd quarter. Channing Capital Management LLC now owns 2,819,261 shares of the company’s stock valued at $69,072,000 after acquiring an additional 382,413 shares in the last quarter. Hedge funds and other institutional investors own 74.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ZWS shares. Mizuho restated a “buy” rating and set a $26.00 price target on shares of Zurn Elkay Water Solutions in a research note on Wednesday, February 8th. Robert W. Baird lowered shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $27.00 to $26.00 in a research note on Tuesday, December 20th. Oppenheimer decreased their target price on Zurn Elkay Water Solutions from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 21st. KeyCorp lowered their price objective on Zurn Elkay Water Solutions from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Zurn Elkay Water Solutions from $27.00 to $29.00 in a research report on Wednesday, February 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Insider Transactions at Zurn Elkay Water Solutions

In related news, Director Thomas Christopoul sold 23,715 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $23.92, for a total transaction of $567,262.80. Following the completion of the sale, the director now directly owns 95,455 shares in the company, valued at $2,283,283.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zurn Elkay Water Solutions news, insider Craig Wehr sold 1,442 shares of the stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $23.17, for a total value of $33,411.14. Following the sale, the insider now owns 82,640 shares of the company’s stock, valued at approximately $1,914,768.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Christopoul sold 23,715 shares of Zurn Elkay Water Solutions stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $23.92, for a total transaction of $567,262.80. Following the sale, the director now directly owns 95,455 shares of the company’s stock, valued at $2,283,283.60. The disclosure for this sale can be found here. Insiders sold a total of 26,573 shares of company stock worth $633,483 over the last three months. 3.80% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Price Performance

ZWS stock opened at $23.00 on Wednesday. The company has a current ratio of 2.62, a quick ratio of 1.35 and a debt-to-equity ratio of 0.33. Zurn Elkay Water Solutions Co. has a 12 month low of $20.10 and a 12 month high of $36.82. The firm has a market capitalization of $4.05 billion, a P/E ratio of 46.94, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. The firm has a 50 day moving average of $22.24 and a 200-day moving average of $24.25.

Zurn Elkay Water Solutions (NYSE:ZWS – Get Rating) last released its earnings results on Tuesday, February 7th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $340.00 million for the quarter, compared to the consensus estimate of $344.77 million. Zurn Elkay Water Solutions had a net margin of 4.81% and a return on equity of 15.78%. The company’s revenue was up 46.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. As a group, sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 0.89 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, February 17th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 57.14%.

Zurn Elkay Water Solutions Company Profile

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Zurn Elkay Water Solutions Corp. engages in the design, procurement, manufacture, and sale of water solutions. It operates through the United States, Canada, and Rest of World geographical segments. The company is headquartered in Milwaukee, WI.