Royal Bank of Canada Sells 11,970 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Royal Bank of Canada lessened its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 588,876 shares of the company's stock after selling 11,970 shares during the quarter. Royal Bank of Canada owned 0.35% of Zurn Elkay Water Solutions worth $21,965,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. DAVENPORT & Co LLC increased its holdings in shares of Zurn Elkay Water Solutions by 3.2% in the 4th quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after acquiring an additional 269 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Zurn Elkay Water Solutions by 7.4% during the fourth 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. Sanctuary Advisors LLC lifted its position in shares of Zurn Elkay Water Solutions by 0.7% in the 4th quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock worth $2,288,000 after buying an additional 389 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 4.8% in the 4th quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock valued at $352,000 after buying an additional 430 shares during the period. Finally, Summit Investment Advisors Inc. grew its position in shares of Zurn Elkay Water Solutions by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company's stock valued at $562,000 after buying an additional 477 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Insider Activity

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 2,706 shares of Zurn Elkay Water Solutions stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total transaction of $100,419.66. Following the transaction, the chief financial officer now owns 60,772 shares of the company's stock, valued at $2,255,248.92. The trade was a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sudhanshu Chhabra sold 25,921 shares of Zurn Elkay Water Solutions stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.19, for a total transaction of $964,001.99. Following the sale, the vice president now directly owns 94,132 shares of the company's stock, valued at $3,500,769.08. This trade 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. BNP Paribas lowered 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. Robert W. Baird cut their target price on 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. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions in a report on Friday, May 16th. Stifel Nicolaus upped their price target 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. Finally, 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 on the stock in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of "Hold" and a consensus price target of $36.29.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded down $0.25 during trading hours on Friday, reaching $36.24. 77,864 shares of the company's stock traded hands, compared to its average volume of 1,121,252. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 39.44, a P/E/G ratio of 2.01 and a beta of 1.02. The business's fifty day simple moving average is $33.35 and its two-hundred day simple moving average is $35.99. Zurn Elkay Water Solutions Co. has a twelve month low of $27.74 and a twelve month high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $383.87 million. During the same period last year, the company posted $0.29 EPS. Analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.36 annualized dividend and a yield of 0.99%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 36.36%.

Zurn Elkay Water Solutions 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.