ProShare Advisors LLC Sells 16,717 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

ProShare Advisors LLC reduced its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,383 shares of the company's stock after selling 16,717 shares during the quarter. ProShare Advisors LLC's holdings in Zurn Elkay Water Solutions were worth $1,618,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Invesco Ltd. boosted its stake in Zurn Elkay Water Solutions by 26.8% in the fourth quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock worth $219,335,000 after purchasing an additional 1,242,642 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Zurn Elkay Water Solutions by 6.5% in the fourth quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company's stock valued at $149,444,000 after buying an additional 245,258 shares during the last quarter. First Trust Advisors LP lifted its position in Zurn Elkay Water Solutions by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock worth $132,661,000 after buying an additional 2,304,285 shares in the last quarter. Beck Mack & Oliver LLC lifted its position in Zurn Elkay Water Solutions by 0.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 3,485,566 shares of the company's stock worth $130,012,000 after buying an additional 17,090 shares in the last quarter. Finally, Crescent Grove Advisors LLC increased its position in Zurn Elkay Water Solutions by 5.7% in the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company's stock valued at $90,842,000 after acquiring an additional 130,732 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insider Activity at Zurn Elkay Water Solutions

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.19, for a total value of $964,001.99. Following the completion of the transaction, the vice president now owns 94,132 shares of the company's stock, valued at $3,500,769.08. The trade was a 21.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the company's stock in a transaction on 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 sale, the chief financial officer now owns 60,772 shares of the company's stock, valued at approximately $2,255,248.92. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock opened at $35.96 on Thursday. The firm has a fifty day moving average of $33.07 and a two-hundred day moving average of $36.11. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 2.01 and a beta of 1.02. Zurn Elkay Water Solutions Co. has a 52 week low of $27.74 and a 52 week high of $41.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $388.80 million during the quarter, compared to analysts' expectations of $383.87 million. During the same period in the previous year, the firm earned $0.29 earnings per share. As a group, equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be given a $0.09 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.00%. Zurn Elkay Water Solutions's dividend payout ratio is 36.36%.

About Zurn Elkay Water Solutions

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.

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