Peregrine Capital Management LLC Trims Stock Position in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Peregrine Capital Management LLC trimmed its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 278,023 shares of the company's stock after selling 18,207 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.16% of Zurn Elkay Water Solutions Cor worth $9,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atala Financial Inc purchased a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $44,000. Tortoise Investment Management LLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 77.4% in the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock valued at $65,000 after purchasing an additional 755 shares during the last quarter. Caisse Des Depots ET Consignations bought a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at $82,000. Central Pacific Bank Trust Division raised its stake in shares of Zurn Elkay Water Solutions Cor by 31.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after acquiring an additional 1,040 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Zurn Elkay Water Solutions Cor by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock worth $205,000 after purchasing an additional 344 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 0.2%

Shares of NYSE ZWS traded down $0.09 during trading on Wednesday, hitting $37.32. 212,101 shares of the company were exchanged, compared to its average volume of 1,085,790. 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 has a fifty day moving average price of $35.79 and a 200-day moving average price of $35.38. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $41.15. The firm has a market capitalization of $6.28 billion, a PE ratio of 37.70, a P/E/G ratio of 2.27 and a beta of 1.00.

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, topping analysts' consensus estimates 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 business had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. During the same quarter last year, the firm earned $0.29 EPS. As a group, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. Zurn Elkay Water Solutions Cor's payout ratio is currently 36.36%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, CFO David J. Pauli sold 2,706 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sudhanshu Chhabra sold 25,921 shares of the company'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 directly owned 94,132 shares in the company, valued at $3,500,769.08. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Mizuho set a $36.00 price target on 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 on the stock. in a report on Wednesday, April 9th. Robert W. Baird dropped their target price on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their target price on shares of Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.