Choreo LLC Decreases Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Choreo LLC trimmed its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,900 shares of the company’s stock after selling 529 shares during the quarter. Choreo LLC’s holdings in Zurn Elkay Water Solutions were worth $446,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ZWS. DAVENPORT & Co LLC grew its position in shares of Zurn Elkay Water Solutions by 3.2% in the 4th quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company’s stock valued at $319,000 after buying an additional 269 shares during the last quarter. Pacer Advisors Inc. increased its stake in Zurn Elkay Water Solutions by 78.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,294 shares of the company’s stock valued at $235,000 after purchasing an additional 2,769 shares during the period. KBC Group NV increased its position in Zurn Elkay Water Solutions by 53.9% in the 4th quarter. KBC Group NV now owns 6,122 shares of the company’s stock valued at $228,000 after acquiring an additional 2,144 shares during the period. Crescent Grove Advisors LLC increased its holdings in shares of Zurn Elkay Water Solutions by 5.7% in the fourth quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company’s stock valued at $90,842,000 after purchasing an additional 130,732 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Zurn Elkay Water Solutions by 986.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 26,237 shares of the company’s stock worth $979,000 after buying an additional 23,823 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $35.91 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. Zurn Elkay Water Solutions Co. has a 12 month low of $28.25 and a 12 month high of $41.15. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 1.78 and a beta of 1.15. The stock’s 50-day moving average is $38.34 and its 200-day moving average is $36.18.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating 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 14.01%. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.35 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, February 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.00%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 39.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZWS. Mizuho increased their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, January 24th. Oppenheimer upped their price target 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. Finally, Robert W. Baird boosted their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

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.