Envestnet Portfolio Solutions Inc. Reduces Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Envestnet Portfolio Solutions Inc. decreased its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,472 shares of the company’s stock after selling 1,081 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Zurn Elkay Water Solutions were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after purchasing an additional 544 shares during the last quarter. Atala Financial Inc purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at about $44,000. Tsfg LLC bought a new position in Zurn Elkay Water Solutions in the 4th quarter worth about $56,000. Tortoise Investment Management LLC increased its position in shares of Zurn Elkay Water Solutions by 77.4% during the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after acquiring an additional 755 shares during the period. Finally, Millburn Ridgefield Corp raised its stake in shares of Zurn Elkay Water Solutions by 1,152.5% during the third quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock valued at $186,000 after acquiring an additional 4,760 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Trading Down 0.6 %

NYSE ZWS opened at $33.42 on Monday. Zurn Elkay Water Solutions Co. has a one year low of $28.25 and a one year high of $41.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16. The company’s 50-day simple moving average is $36.26 and its two-hundred day simple moving average is $36.82.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 39.13%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $38.40.

Insider Activity at Zurn Elkay Water Solutions

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the business’s stock in a transaction on 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 approximately $2,107,272.70. This trade represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

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.