HighPoint Advisor Group LLC Has $4.70 Million Stock Holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

HighPoint Advisor Group LLC reduced its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,635 shares of the company's stock after selling 137,910 shares during the quarter. HighPoint Advisor Group LLC owned 0.08% of Zurn Elkay Water Solutions Cor worth $4,703,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. First Trust Advisors LP raised its stake in shares of Zurn Elkay Water Solutions Cor by 184.0% during the fourth quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock valued at $132,661,000 after purchasing an additional 2,304,285 shares during the period. Norges Bank purchased a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter worth $61,412,000. Invesco Ltd. lifted its holdings in Zurn Elkay Water Solutions Cor by 26.8% in the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock worth $219,335,000 after buying an additional 1,242,642 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Zurn Elkay Water Solutions Cor by 58.6% in the 4th quarter. Ameriprise Financial Inc. now owns 985,576 shares of the company's stock valued at $36,762,000 after buying an additional 364,142 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Zurn Elkay Water Solutions Cor by 19.8% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.19, for a total value of $964,001.99. Following the sale, the vice president owned 94,132 shares of the company's stock, valued at approximately $3,500,769.08. The trade was a 21.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David J. Pauli sold 2,706 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total value of $100,419.66. Following the transaction, 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. Corporate insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock traded down $0.53 on Monday, reaching $37.02. 922,186 shares of the company were exchanged, compared to its average volume of 1,082,745. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 37.39, a P/E/G ratio of 2.32 and a beta of 0.99. 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 debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.87. The company's 50-day moving average is $36.61 and its two-hundred day moving average is $35.33.

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 the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. The company had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. As a group, research analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions Cor from $39.00 to $43.00 and gave the company a "buy" rating in a research report on Monday. Robert W. Baird decreased their price objective on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. BNP Paribas lowered 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 report on Wednesday, April 9th. Finally, The Goldman Sachs Group reduced their target price 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. Four 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.com, the company currently has a consensus rating of "Hold" and a consensus target price of $36.86.

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.