California Public Employees Retirement System Sells 23,235 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

California Public Employees Retirement System lessened its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWSGet Rating) by 8.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,611 shares of the company’s stock after selling 23,235 shares during the period. California Public Employees Retirement System’s holdings in Zurn Elkay Water Solutions were worth $6,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Arizona State Retirement System raised its stake in shares of Zurn Elkay Water Solutions by 3.9% during the second quarter. Arizona State Retirement System now owns 34,087 shares of the company’s stock valued at $929,000 after acquiring an additional 1,284 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Zurn Elkay Water Solutions by 7.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,425 shares of the company’s stock valued at $793,000 after acquiring an additional 1,492 shares in the last quarter. Larson Financial Group LLC bought a new stake in shares of Zurn Elkay Water Solutions during the second quarter valued at approximately $42,000. Teacher Retirement System of Texas raised its stake in shares of Zurn Elkay Water Solutions by 7.0% during the first quarter. Teacher Retirement System of Texas now owns 25,111 shares of the company’s stock valued at $889,000 after acquiring an additional 1,649 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in shares of Zurn Elkay Water Solutions by 5.4% during the first quarter. Gabelli Funds LLC now owns 33,100 shares of the company’s stock valued at $1,172,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 84.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. KeyCorp cut their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, October 14th. Stifel Nicolaus cut their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, October 11th. Robert W. Baird cut their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $27.00 in a report on Wednesday, October 26th. Mizuho cut their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, October 27th. Finally, Oppenheimer cut their price objective on shares of Zurn Elkay Water Solutions to $35.00 in a report on Thursday, September 29th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Buy” and an average price target of $31.17.

Zurn Elkay Water Solutions Price Performance

NYSE ZWS opened at $24.95 on Friday. Zurn Elkay Water Solutions Co. has a 12-month low of $21.39 and a 12-month high of $37.77. The firm’s fifty day simple moving average is $24.32 and its two-hundred day simple moving average is $27.13. The company has a current ratio of 2.44, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $4.44 billion, a P/E ratio of -226.82, a P/E/G ratio of 1.51 and a beta of 1.25.

Zurn Elkay Water Solutions (NYSE:ZWSGet Rating) last posted its earnings results on Tuesday, October 25th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $417.70 million during the quarter, compared to the consensus estimate of $420.47 million. Zurn Elkay Water Solutions had a negative net margin of 1.61% and a positive return on equity of 26.79%. Analysts forecast that Zurn Elkay Water Solutions Co. will post 0.97 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Friday, November 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.12%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently -254.55%.

Zurn Elkay Water Solutions Profile

(Get Rating)

Zurn Elkay Water Solutions Corporation designs, procures, manufactures, and markets water system solutions that provide and enhance water quality, safety, flow control, and conservation in and around non-residential buildings. It offers finish plumbing, drainage and interceptors, water control and backflow, fire protection, PEX pipe fittings and accessories, and repair parts under the Zurn brand name; and hand and hair dryers, and baby changing stations under the World Dryer brand name.

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Institutional Ownership by Quarter for Zurn Elkay Water Solutions (NYSE:ZWS)

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