Franklin Resources Inc. Has $42.21 Million Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Franklin Resources Inc. lessened its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 28.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,435,181 shares of the company’s stock after selling 558,293 shares during the period. Franklin Resources Inc. owned 0.83% of Zurn Elkay Water Solutions worth $42,209,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of Zurn Elkay Water Solutions by 32.9% during the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock worth $85,000 after acquiring an additional 718 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Zurn Elkay Water Solutions by 2,110.7% during the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock worth $67,968,000 after purchasing an additional 2,206,508 shares during the last quarter. Global Alpha Capital Management Ltd. acquired a new position in Zurn Elkay Water Solutions during the 4th quarter valued at about $1,512,000. UBS Group AG boosted its stake in shares of Zurn Elkay Water Solutions by 37.5% in the 4th quarter. UBS Group AG now owns 217,525 shares of the company’s stock valued at $6,397,000 after purchasing an additional 59,278 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at about $1,511,000. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $31.95 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. Zurn Elkay Water Solutions Co. has a 52 week low of $21.84 and a 52 week high of $34.58. The company’s 50 day moving average price is $32.20 and its two-hundred day moving average price is $30.82. The company has a market capitalization of $5.52 billion, a P/E ratio of 45.00, a price-to-earnings-growth ratio of 1.66 and a beta of 1.21.

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, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. On average, analysts expect that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, May 20th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. Zurn Elkay Water Solutions’s payout ratio is presently 45.07%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company. Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Oppenheimer increased their target price on 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.50.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 49,828 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $32.07, for a total transaction of $1,597,983.96. Following the completion of the transaction, the insider now owns 24,948,932 shares of the company’s stock, valued at approximately $800,112,249.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Thomas Christopoul sold 10,495 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $32.11, for a total transaction of $336,994.45. Following the sale, the director now owns 104,844 shares in the company, valued at approximately $3,366,540.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ice Mountain Llc sold 49,828 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $32.07, for a total transaction of $1,597,983.96. Following the completion of the sale, the insider now owns 24,948,932 shares of the company’s stock, valued at $800,112,249.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 557,460 shares of company stock worth $17,902,663. 3.80% of the stock is owned by corporate insiders.

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.