Brown Advisory Inc. Cuts Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Brown Advisory Inc. lessened its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,943,397 shares of the company's stock after selling 541,293 shares during the quarter. Brown Advisory Inc. owned approximately 1.15% of Zurn Elkay Water Solutions worth $72,489,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its position in Zurn Elkay Water Solutions by 3.2% during the 4th quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after purchasing an additional 269 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Zurn Elkay Water Solutions by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock worth $205,000 after purchasing an additional 344 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Zurn Elkay Water Solutions by 0.7% in the fourth quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock worth $2,288,000 after buying an additional 389 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Zurn Elkay Water Solutions by 4.8% during the 4th quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock valued at $352,000 after purchasing an additional 430 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Zurn Elkay Water Solutions by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company's stock worth $562,000 after buying an additional 477 shares in the last quarter. Institutional investors own 83.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ZWS shares. BNP Paribas downgraded Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price target on the stock. in a research note on Wednesday, April 9th. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group cut their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Robert W. Baird reduced their target price on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $36.43.

Insider Activity at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the sale, the insider now directly owns 15,002,819 shares in the company, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Zurn Elkay Water Solutions Trading Up 2.7 %

Zurn Elkay Water Solutions stock traded up $0.94 during mid-day trading on Thursday, hitting $35.19. The company's stock had a trading volume of 898,018 shares, compared to its average volume of 1,125,955. The stock has a market cap of $5.92 billion, a PE ratio of 38.25, a P/E/G ratio of 2.01 and a beta of 1.02. Zurn Elkay Water Solutions Co. has a one year low of $27.74 and a one year high of $41.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The company has a 50 day moving average of $32.51 and a 200-day moving average of $36.08.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.02. The firm had revenue of $388.80 million during the quarter, compared to analyst estimates of $383.87 million. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.36 annualized dividend and a yield of 1.02%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 36.36%.

Zurn Elkay Water Solutions Company 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.