Bank of New York Mellon Corp lowered its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 40.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053,263 shares of the company's stock after selling 714,206 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of Zurn Elkay Water Solutions Cor worth $34,737,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC boosted its holdings in Zurn Elkay Water Solutions Cor by 9.2% in the 4th quarter. HighTower Advisors LLC now owns 8,834 shares of the company's stock valued at $329,000 after purchasing an additional 742 shares during the period. Natixis Advisors LLC increased its position in Zurn Elkay Water Solutions Cor by 60.5% in the 4th quarter. Natixis Advisors LLC now owns 21,267 shares of the company's stock valued at $793,000 after acquiring an additional 8,017 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 6.7% during the 4th quarter. Corient Private Wealth LLC now owns 13,903 shares of the company's stock worth $519,000 after buying an additional 876 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $503,000. Finally, Xponance Inc. grew its position in shares of Zurn Elkay Water Solutions Cor by 22.8% during the 4th quarter. Xponance Inc. now owns 11,547 shares of the company's stock worth $431,000 after buying an additional 2,146 shares during the period. Institutional investors and hedge funds own 83.33% of the company's stock.
Analyst Upgrades and Downgrades
ZWS has been the topic of several research reports. The Goldman Sachs Group decreased their price objective on shares of Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Stifel Nicolaus increased their target price on shares of Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Robert W. Baird reduced their price objective on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Finally, BNP Paribas cut Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 target price 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 stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of "Hold" and a consensus price target of $36.29.
Get Our Latest Research Report on ZWS
Zurn Elkay Water Solutions Cor Trading Up 0.5%
Shares of ZWS traded up $0.20 during midday trading on Friday, hitting $37.53. 1,955,297 shares of the stock were exchanged, compared to its average volume of 1,082,302. The firm has a market cap of $6.31 billion, a P/E ratio of 37.91, a P/E/G ratio of 2.32 and a beta of 0.99. The stock has a fifty day simple moving average of $36.61 and a 200 day simple moving average of $35.36. Zurn Elkay Water Solutions Cor 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 0.32, a quick ratio of 1.72 and a current ratio of 2.87.
Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. The business had revenue of $388.80 million for the quarter, compared to analysts' expectations of $383.87 million. Zurn Elkay Water Solutions Cor had a return on equity of 14.43% and a net margin of 10.72%. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.
Zurn Elkay Water Solutions Cor Announces Dividend
The company 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 of this dividend was Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. Zurn Elkay Water Solutions Cor's payout ratio is currently 36.36%.
Insider Transactions at Zurn Elkay Water Solutions Cor
In related news, VP Sudhanshu Chhabra sold 25,921 shares of Zurn Elkay Water Solutions Cor 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 sale, the vice president owned 94,132 shares of the company's stock, valued at approximately $3,500,769.08. The trade was a 21.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David J. Pauli sold 2,706 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the sale, the chief financial officer owned 60,772 shares in the company, valued at approximately $2,255,248.92. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.
Zurn Elkay Water Solutions Cor Profile
(
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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