Millennium Management LLC cut its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 89.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,140 shares of the company's stock after selling 176,792 shares during the quarter. Millennium Management LLC's holdings in Zurn Elkay Water Solutions were worth $789,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. DAVENPORT & Co LLC grew its stake in shares of Zurn Elkay Water Solutions by 3.2% in the fourth quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after acquiring an additional 269 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Zurn Elkay Water Solutions by 3.9% in the fourth quarter. Bleakley Financial Group LLC now owns 21,690 shares of the company's stock valued at $809,000 after acquiring an additional 819 shares in the last quarter. Sanctuary Advisors LLC grew 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 valued at $2,288,000 after acquiring an additional 389 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Zurn Elkay Water Solutions by 4.8% in the fourth quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock valued at $352,000 after acquiring an additional 430 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its stake in shares of Zurn Elkay Water Solutions by 1.8% in the fourth quarter. Peregrine Capital Management LLC now owns 296,230 shares of the company's stock valued at $11,049,000 after acquiring an additional 5,286 shares in the last quarter. 83.33% of the stock is owned by institutional investors.
Zurn Elkay Water Solutions Price Performance
Shares of Zurn Elkay Water Solutions stock opened at $36.50 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.14 billion, a PE ratio of 39.67, a P/E/G ratio of 2.01 and a beta of 1.00. The business has a 50 day moving average of $33.68 and a 200 day moving average of $35.87. Zurn Elkay Water Solutions Co. has a 52 week low of $27.74 and a 52 week high of $41.15.
Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. The firm had revenue of $388.80 million for the quarter, compared to analysts' expectations of $383.87 million. During the same period in the prior year, the firm posted $0.29 earnings per share. As a group, equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.
Zurn Elkay Water Solutions Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Tuesday, May 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is currently 36.36%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Friday, May 16th. Robert W. Baird reduced their price objective on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. BNP Paribas downgraded shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective on the stock. in a research note on Wednesday, April 9th. Finally, Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of "Hold" and an average target price of $36.29.
Check Out Our Latest Research Report on ZWS
Insider Transactions at Zurn Elkay Water Solutions
In other Zurn Elkay Water Solutions 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 transaction, the vice president now owns 94,132 shares in the company, valued at $3,500,769.08. This trade represents a 21.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David J. Pauli sold 2,706 shares of the business's stock in a transaction on 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 now owns 60,772 shares of the company's stock, valued at approximately $2,255,248.92. The trade was 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 Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding ZWS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report).
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