Vanguard Group Inc. decreased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS – Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,489,299 shares of the company’s stock after selling 255,831 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Zurn Elkay Water Solutions worth $577,751,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in Zurn Elkay Water Solutions during the 4th quarter worth approximately $80,457,000. State Street Corp grew its position in Zurn Elkay Water Solutions by 63.8% in the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock valued at $195,585,000 after buying an additional 2,119,777 shares during the last quarter. Principal Financial Group Inc. increased its stake in Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after buying an additional 868,748 shares during the period. JPMorgan Chase & Co. raised its position in Zurn Elkay Water Solutions by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock worth $58,077,000 after buying an additional 329,563 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter worth $10,936,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.
Analysts Set New Price Targets
Separately, Stifel Nicolaus boosted their price target on shares of 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 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 currently has a consensus rating of “Hold” and a consensus target price of $38.40.
Zurn Elkay Water Solutions Price Performance
ZWS stock opened at $33.00 on Tuesday. Zurn Elkay Water Solutions Co. has a 1 year low of $28.25 and a 1 year high of $41.15. The firm has a market cap of $5.57 billion, a P/E ratio of 35.87, a PEG ratio of 2.01 and a beta of 1.16. The stock’s 50 day moving average price is $35.79 and its 200 day moving average price is $36.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91.
Zurn Elkay Water Solutions (NYSE:ZWS – Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping 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%. On average, sell-side 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 business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 39.13%.
Insider Activity
In other news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at $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. Insiders own 2.60% of the company’s stock.
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.
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