Principal Financial Group Inc. Sells 71,841 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Principal Financial Group Inc. trimmed its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 2.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,376,893 shares of the company's stock after selling 71,841 shares during the period. Principal Financial Group Inc. owned 1.41% of Zurn Elkay Water Solutions Cor worth $78,390,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ZWS. Charles Schwab Investment Management Inc. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,935,535 shares of the company's stock valued at $72,195,000 after acquiring an additional 76,102 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at $80,457,000. Candriam S.C.A. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 13.0% in the 4th quarter. Candriam S.C.A. now owns 110,548 shares of the company's stock valued at $4,123,000 after acquiring an additional 12,703 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at $2,711,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Zurn Elkay Water Solutions Cor by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock valued at $205,000 after acquiring an additional 344 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $37.19, for a total value of $964,001.99. Following the completion of the sale, the vice president directly owned 94,132 shares in the company, valued at $3,500,769.08. This trade represents a 21.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $100,419.66. Following the completion of the transaction, the chief financial officer directly owned 60,772 shares in the company, 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. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZWS. The Goldman Sachs Group lowered their target price 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 target price on Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Robert W. Baird lowered 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. BNP Paribas lowered Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 target price for the company. in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus raised 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 report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $36.29.

Zurn Elkay Water Solutions Cor Trading Up 1.1%

Zurn Elkay Water Solutions Cor stock traded up $0.41 during trading hours on Tuesday, reaching $37.44. 649,876 shares of the company's stock were exchanged, compared to its average volume of 1,086,986. 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 firm's 50 day simple moving average is $36.10 and its 200 day simple moving average is $35.34. The firm has a market capitalization of $6.30 billion, a PE ratio of 37.82, a PEG ratio of 2.30 and a beta of 0.99. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $41.15.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued 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. The company had revenue of $388.80 million during 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 period last year, the business posted $0.29 EPS. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. Zurn Elkay Water Solutions Cor's dividend payout ratio is presently 36.36%.

About Zurn Elkay Water Solutions Cor

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.