Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division reduced its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 34.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,360 shares of the company’s stock after selling 1,760 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Zurn Elkay Water Solutions were worth $125,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after acquiring an additional 544 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Zurn Elkay Water Solutions by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock valued at $58,077,000 after purchasing an additional 329,563 shares during the period. Principal Financial Group Inc. grew its position in Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after buying an additional 868,748 shares during the period. Virtu Financial LLC acquired a new position in Zurn Elkay Water Solutions during the third quarter worth about $234,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Zurn Elkay Water Solutions by 23.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock valued at $2,239,000 after buying an additional 11,732 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Robert W. Baird raised their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Mizuho boosted their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Zurn Elkay Water Solutions Trading Up 0.4 %

Zurn Elkay Water Solutions stock opened at $37.06 on Friday. The stock has a market cap of $6.29 billion, a PE ratio of 46.91, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $38.71 and a 200 day moving average price of $34.62. Zurn Elkay Water Solutions Co. has a 52 week low of $27.55 and a 52 week high of $41.15.

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

Zurn Elkay Water Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.09 per share. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.57%.

Insider Activity

In related news, VP Jeffrey J. Lavalle sold 3,132 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the sale, the vice president now directly owns 35,422 shares in the company, valued at approximately $1,386,771.30. The trade was a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Pauli sold 4,070 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the transaction, the chief financial officer now directly owns 47,572 shares in the company, valued at approximately $1,862,443.80. This represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,202 shares of company stock valued at $5,813,358 over the last quarter. Company insiders own 3.80% 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.