ProShare Advisors LLC lowered its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 27.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.
Other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its stake in shares of Zurn Elkay Water Solutions by 26.8% in the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock valued at $219,335,000 after purchasing an additional 1,242,642 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Zurn Elkay Water Solutions by 6.5% during the fourth quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company's stock worth $149,444,000 after buying an additional 245,258 shares in the last quarter. First Trust Advisors LP raised its position in Zurn Elkay Water Solutions by 184.0% in the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock valued at $132,661,000 after buying an additional 2,304,285 shares during the last quarter. Beck Mack & Oliver LLC lifted its stake in Zurn Elkay Water Solutions by 0.5% in the 4th quarter. Beck Mack & Oliver LLC now owns 3,485,566 shares of the company's stock valued at $130,012,000 after acquiring an additional 17,090 shares in the last quarter. Finally, Crescent Grove Advisors LLC boosted its position in Zurn Elkay Water Solutions by 5.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company's stock worth $90,842,000 after acquiring an additional 130,732 shares during the last quarter. Institutional investors own 83.33% of the company's stock.
Zurn Elkay Water Solutions Price Performance
Zurn Elkay Water Solutions stock traded up $0.92 during trading hours on Tuesday, reaching $36.45. 95,058 shares of the stock were exchanged, compared to its average volume of 1,125,375. The stock has a 50 day moving average of $33.19 and a two-hundred day moving average of $36.01. The company has a market cap of $6.13 billion, a P/E ratio of 39.59, a price-to-earnings-growth ratio of 2.01 and a beta of 1.02. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a twelve month low of $27.74 and a twelve month high of $41.15.
Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $383.87 million. During the same period in the prior year, the company earned $0.29 EPS. Equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.
Zurn Elkay Water Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Tuesday, May 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 36.36%.
Insider Activity
In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 25,921 shares of Zurn Elkay Water Solutions stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 94,132 shares in the company, valued at approximately $3,500,769.08. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of Zurn Elkay Water Solutions 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 $2,255,248.92. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on ZWS shares. BNP Paribas cut Zurn Elkay Water Solutions 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. Stifel Nicolaus boosted their target price on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group cut 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 report on Wednesday, April 2nd. Robert W. Baird lowered their target price on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions in a research report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.29.
View Our Latest Analysis on Zurn Elkay Water Solutions
About Zurn Elkay Water Solutions
(
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.
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