Global Alpha Capital Management Ltd. Grows Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Global Alpha Capital Management Ltd. lifted its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 23.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,448 shares of the company’s stock after purchasing an additional 17,350 shares during the quarter. Global Alpha Capital Management Ltd. owned about 0.05% of Zurn Elkay Water Solutions worth $3,323,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC raised its stake in shares of Zurn Elkay Water Solutions by 1.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock worth $750,000 after acquiring an additional 269 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after acquiring an additional 373 shares in the last quarter. MJP Associates Inc. ADV boosted its stake in Zurn Elkay Water Solutions by 5.5% in the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock valued at $300,000 after acquiring an additional 534 shares in the last quarter. Quarry LP boosted its stake in Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after acquiring an additional 536 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Zurn Elkay Water Solutions by 1.4% in the second quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock valued at $1,203,000 after acquiring an additional 561 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Mizuho raised their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Four investment 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, the company currently has a consensus rating of “Hold” and an average price target of $38.17.

Insiders Place Their Bets

In other news, VP Jeffrey J. Lavalle sold 3,132 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the transaction, the vice president now owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. This trade represents a 8.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 15,600 shares of Zurn Elkay Water Solutions stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.03, for a total transaction of $515,268.00. Following the transaction, the director now directly owns 385,017 shares in the company, valued at approximately $12,717,111.51. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock valued at $8,400,151 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Trading Down 0.4 %

ZWS opened at $39.01 on Wednesday. The firm has a market capitalization of $6.62 billion, a P/E ratio of 49.38, a P/E/G ratio of 1.97 and a beta of 1.14. The firm’s 50 day moving average is $36.43 and its 200-day moving average is $32.94. Zurn Elkay Water Solutions Co. has a 52-week low of $27.55 and a 52-week high of $40.64. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.57%.

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.