Thrive Wealth Management LLC Acquires New Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Thrive Wealth Management LLC bought a new position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,887 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ZWS. Vanguard Group Inc. raised its holdings in Zurn Elkay Water Solutions by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock valued at $404,041,000 after buying an additional 131,683 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Zurn Elkay Water Solutions by 1.8% in the 4th quarter. Brown Advisory Inc. now owns 2,797,537 shares of the company’s stock valued at $82,276,000 after purchasing an additional 48,695 shares during the period. Wells Fargo & Company MN boosted its position in shares of Zurn Elkay Water Solutions by 2,110.7% during the fourth quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after purchasing an additional 2,206,508 shares in the last quarter. Northern Trust Corp grew its stake in Zurn Elkay Water Solutions by 4.9% in the third quarter. Northern Trust Corp now owns 1,558,078 shares of the company’s stock worth $43,657,000 after purchasing an additional 72,278 shares during the period. Finally, Norges Bank bought a new position in Zurn Elkay Water Solutions in the fourth quarter worth $39,532,000. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Stock Down 0.1 %

Shares of NYSE ZWS traded down $0.03 during midday trading on Thursday, hitting $29.17. The stock had a trading volume of 1,029,238 shares, compared to its average volume of 923,008. The company has a market cap of $5.04 billion, a P/E ratio of 41.39, a PEG ratio of 1.55 and a beta of 1.19. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $31.42 and its 200-day moving average is $31.00. Zurn Elkay Water Solutions Co. has a 52 week low of $25.09 and a 52 week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The business had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. During the same quarter last year, the company earned $0.18 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts predict that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Monday, May 20th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.32 annualized dividend and a dividend yield of 1.10%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Insider Buying and Selling

In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $32.18, for a total value of $1,614,534.96. Following the transaction, the insider now owns 24,998,760 shares of the company’s stock, valued at $804,460,096.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Thomas Christopoul sold 10,495 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $32.11, for a total value of $336,994.45. Following the completion of the transaction, the director now owns 104,844 shares of the company’s stock, valued at approximately $3,366,540.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ice Mountain Llc sold 50,172 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the sale, the insider now directly owns 24,998,760 shares in the company, valued at $804,460,096.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 641,465 shares of company stock worth $20,532,684. 3.80% of the stock is owned by insiders.

Analyst Ratings Changes

ZWS has been the topic of a number of recent research reports. Oppenheimer upped their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.50.

Zurn Elkay Water Solutions 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.