Two Sigma Investments LP Reduces Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Two Sigma Investments LP lessened its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 31.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 reporting period.

Several other large investors also recently made changes to their positions in ZWS. Invesco Ltd. grew 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 valued at $219,335,000 after acquiring an additional 1,242,642 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Zurn Elkay Water Solutions by 6.5% in the 4th quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company's stock worth $149,444,000 after purchasing an additional 245,258 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of 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 worth $132,661,000 after purchasing an additional 2,304,285 shares in the last quarter. Beck Mack & Oliver LLC grew its position 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 purchasing an additional 17,090 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Zurn Elkay Water Solutions by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,386,474 shares of the company's stock valued at $89,015,000 after purchasing an additional 12,558 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Stock Up 0.2%

Zurn Elkay Water Solutions stock traded up $0.08 during midday trading on Monday, hitting $36.60. 540,259 shares of the stock were exchanged, compared to its average volume of 1,117,863. 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 quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The business's 50-day moving average price is $33.68 and its 200-day moving average price is $35.83. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 39.78, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $388.80 million for the quarter, compared to analysts' expectations of $383.87 million. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. During the same quarter last year, the firm earned $0.29 EPS. On average, research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were given a $0.09 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.36 annualized dividend and a yield of 0.98%. Zurn Elkay Water Solutions's dividend payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ZWS shares. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions in a report on Friday, May 16th. 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 report on Thursday, April 24th. 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. Robert W. Baird cut their price target on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a research note 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 objective for the company. in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of "Hold" and a consensus target price of $36.29.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, 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 transaction, the chief financial officer now directly owns 60,772 shares of the company's stock, valued at approximately $2,255,248.92. The trade was a 4.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $964,001.99. Following the sale, the vice president now 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. Corporate insiders own 2.60% of the company's stock.

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.