Envestnet Asset Management Inc. Has $26.45 Million Holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Envestnet Asset Management Inc. trimmed its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 3.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 801,840 shares of the company's stock after selling 28,250 shares during the quarter. Envestnet Asset Management Inc. owned about 0.48% of Zurn Elkay Water Solutions Cor worth $26,445,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ZWS. First Trust Advisors LP lifted its position in shares of Zurn Elkay Water Solutions Cor by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock valued at $132,661,000 after acquiring an additional 2,304,285 shares during the period. Norges Bank bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter valued at $61,412,000. Invesco Ltd. lifted its position in shares of Zurn Elkay Water Solutions Cor by 26.8% during the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock valued at $219,335,000 after acquiring an additional 1,242,642 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 58.6% during the 4th quarter. Ameriprise Financial Inc. now owns 985,576 shares of the company's stock valued at $36,762,000 after acquiring an additional 364,142 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Zurn Elkay Water Solutions Cor by 19.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,935,839 shares of the company's stock valued at $72,207,000 after acquiring an additional 319,895 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 0.2%

Zurn Elkay Water Solutions Cor stock traded down $0.07 during trading hours on Friday, hitting $37.27. The stock had a trading volume of 290,156 shares, compared to its average volume of 1,074,406. The company has a quick ratio of 1.72, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 2.27 and a beta of 0.99. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $41.15. The business's 50 day simple moving average is $36.56 and its 200-day simple moving average is $35.35.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions Cor had a return on equity of 14.43% and a net margin of 10.72%. The firm had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. During the same period last year, the company earned $0.29 earnings per share. On average, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.36 annualized dividend and a yield of 0.97%. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 36.36%.

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 25,921 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the vice president owned 94,132 shares of the company's stock, valued at $3,500,769.08. This trade represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David J. Pauli sold 2,706 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total value of $100,419.66. Following the sale, the chief financial officer directly owned 60,772 shares of the company's stock, valued at $2,255,248.92. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ZWS shares. Robert W. Baird cut their target price on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. BNP Paribas downgraded Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor has an average rating of "Hold" and an average target price of $36.29.

Zurn Elkay Water Solutions Cor 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.