Two Sigma Investments LP Trims Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Two Sigma Investments LP reduced its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 31.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,295 shares of the company's stock after selling 13,719 shares during the quarter. Two Sigma Investments LP's holdings in Zurn Elkay Water Solutions were worth $1,093,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

ZWS has been the topic of several recent research reports. The Goldman Sachs Group dropped their price target 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. Stifel Nicolaus upped their price target 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. Mizuho set a $36.00 price target on Zurn Elkay Water Solutions in a research report on Friday, May 16th. Robert W. Baird cut their price objective 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, BNP Paribas lowered shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 target price for the company. in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions presently has a consensus rating of "Hold" and an average target price of $36.29.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 25,921 shares of the business'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 now directly owns 94,132 shares in the company, valued at $3,500,769.08. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $100,419.66. Following the completion of the sale, the chief financial officer now owns 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 disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock traded up $0.24 during trading hours on Friday, hitting $36.50. 373,582 shares of the company's stock traded hands, compared to its average volume of 1,117,826. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 39.67, a PEG ratio of 2.01 and a beta of 1.00. Zurn Elkay Water Solutions Co. has a 12-month low of $27.74 and a 12-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. The company has a fifty day simple moving average of $33.61 and a 200-day simple moving average of $35.89.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data 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 had a net margin of 10.23% and a return on equity of 14.03%. 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 company posted $0.29 earnings per share. Equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

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