Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 830,090 shares of the company's stock after selling 14,308 shares during the quarter. Envestnet Asset Management Inc. owned about 0.49% of Zurn Elkay Water Solutions worth $30,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wells Fargo & Company MN grew its stake in Zurn Elkay Water Solutions by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,386,474 shares of the company's stock worth $89,015,000 after buying an additional 12,558 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $486,000. Massachusetts Financial Services Co. MA raised its position in Zurn Elkay Water Solutions by 291.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 71,111 shares of the company's stock valued at $2,652,000 after purchasing an additional 52,964 shares during the last quarter. HighPoint Advisor Group LLC grew its position in Zurn Elkay Water Solutions by 99.9% during the 4th quarter. HighPoint Advisor Group LLC now owns 275,545 shares of the company's stock worth $10,190,000 after purchasing an additional 137,683 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 180.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 17,777 shares of the company's stock valued at $663,000 after buying an additional 11,428 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on ZWS shares. BNP Paribas downgraded Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a research note on Wednesday, April 9th. The Goldman Sachs Group decreased 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, Stifel Nicolaus raised shares of Zurn Elkay Water Solutions from a "hold" rating to a "buy" rating and dropped their price objective for the company from $39.00 to $34.00 in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $35.71.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS traded up $0.44 during trading on Friday, hitting $30.04. 1,139,933 shares of the company were exchanged, compared to its average volume of 1,115,835. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. Zurn Elkay Water Solutions Co. has a 1 year low of $27.74 and a 1 year high of $41.15. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 2.01 and a beta of 1.08. The firm's fifty day moving average price is $33.14 and its 200 day moving average price is $36.40.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping 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 14.03%. On average, sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.20%. Zurn Elkay Water Solutions's payout ratio is 39.13%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the transaction, the insider now owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David J. Pauli sold 8,390 shares of the company's stock in a transaction 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 sale, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. This represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% 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.