Allspring Global Investments Holdings LLC Sells 19,234 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Allspring Global Investments Holdings LLC decreased its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 144,794 shares of the company's stock after selling 19,234 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.09% of Zurn Elkay Water Solutions Cor worth $4,801,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund lifted its position in shares of Zurn Elkay Water Solutions Cor by 2.8% during the first quarter. Illinois Municipal Retirement Fund now owns 77,158 shares of the company's stock worth $2,545,000 after purchasing an additional 2,126 shares in the last quarter. Perpetual Ltd boosted its stake in Zurn Elkay Water Solutions Cor by 23.4% during the 1st quarter. Perpetual Ltd now owns 264,396 shares of the company's stock worth $8,720,000 after acquiring an additional 50,207 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Zurn Elkay Water Solutions Cor in the first quarter valued at approximately $2,642,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the first quarter worth $265,000. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in shares of Zurn Elkay Water Solutions Cor by 45.2% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 533,849 shares of the company's stock valued at $17,606,000 after purchasing an additional 166,080 shares during the period. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Price Performance

ZWS traded down $0.58 during midday trading on Monday, hitting $36.98. The stock had a trading volume of 556,210 shares, compared to its average volume of 1,087,572. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $41.15. The company has a market cap of $6.22 billion, a P/E ratio of 37.35, a price-to-earnings-growth ratio of 2.33 and a beta of 0.99. The business has a fifty day moving average of $36.04 and a 200 day moving average of $35.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.87.

Zurn Elkay Water Solutions Cor (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 company had revenue of $388.80 million for the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions Cor had a return on equity of 14.43% and a net margin of 10.72%. During the same quarter in the previous year, the business earned $0.29 EPS. As a group, equities analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Tuesday, May 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is presently 36.36%.

Insider Buying and Selling

In related news, VP Sudhanshu Chhabra sold 25,921 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.19, for a total transaction of $964,001.99. Following the transaction, the vice president directly owned 94,132 shares in the company, valued at approximately $3,500,769.08. The trade was a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David J. Pauli sold 2,706 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the transaction, the chief financial officer directly owned 60,772 shares in the company, valued at $2,255,248.92. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ZWS. Robert W. Baird lowered their price target on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Mizuho set a $36.00 price target on Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, BNP Paribas downgraded Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 price objective on the stock. in a report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Hold" and a consensus target price of $36.29.

Zurn Elkay Water Solutions Cor 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.