Zurcher Kantonalbank Zurich Cantonalbank Sells 14,592 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 18.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,747 shares of the company’s stock after selling 14,592 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zurn Elkay Water Solutions were worth $1,904,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ZWS. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 145.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock worth $202,037,000 after acquiring an additional 4,268,785 shares during the last quarter. Raymond James & Associates raised its holdings in Zurn Elkay Water Solutions by 1,622.8% in the 4th quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock worth $36,592,000 after acquiring an additional 1,171,985 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in Zurn Elkay Water Solutions by 199.2% in the 3rd quarter. Epoch Investment Partners Inc. now owns 302,491 shares of the company’s stock worth $8,476,000 after acquiring an additional 201,394 shares during the last quarter. Deutsche Bank AG raised its holdings in Zurn Elkay Water Solutions by 142.0% in the 3rd quarter. Deutsche Bank AG now owns 333,909 shares of the company’s stock worth $9,356,000 after acquiring an additional 195,954 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in Zurn Elkay Water Solutions by 21.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,080,000 shares of the company’s stock worth $30,415,000 after acquiring an additional 191,000 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 249,582 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the transaction, the insider now owns 24,505,660 shares of the company’s stock, valued at approximately $785,161,346.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Todd A. Adams sold 129,604 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the completion of the transaction, the chief executive officer now owns 1,828,550 shares of the company’s stock, valued at approximately $60,451,863. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ice Mountain Llc sold 249,582 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the completion of the transaction, the insider now directly owns 24,505,660 shares of the company’s stock, valued at approximately $785,161,346.40. The disclosure for this sale can be found here. Insiders sold 741,506 shares of company stock worth $23,964,936 in the last three months. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZWS. BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective for the company. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Finally, Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.75.

Zurn Elkay Water Solutions Trading Down 1.9 %

NYSE:ZWS opened at $32.12 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 45.24, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22. Zurn Elkay Water Solutions Co. has a one year low of $20.06 and a one year high of $34.58. The business has a fifty day moving average price of $31.94 and a 200-day moving average price of $29.98.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.87% and a net margin of 8.11%. Zurn Elkay Water Solutions’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.07%.

About Zurn Elkay Water Solutions

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.