Zurn Elkay Water Solutions Cor (NYSE:ZWS) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,046 shares of the company's stock after selling 7,469 shares during the period. Janney Montgomery Scott LLC owned about 0.11% of Zurn Elkay Water Solutions Cor worth $6,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 0.7% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,563,362 shares of the company's stock valued at $505,913,000 after purchasing an additional 91,758 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 26.8% during the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock worth $219,335,000 after purchasing an additional 1,242,642 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 6.5% during 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 during the period. First Trust Advisors LP raised its position in shares of Zurn Elkay Water Solutions Cor 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 buying an additional 2,304,285 shares during the period. Finally, Beck Mack & Oliver LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 0.5% in the 4th quarter. Beck Mack & Oliver LLC now owns 3,485,566 shares of the company's stock worth $130,012,000 after buying an additional 17,090 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 0.7%

Shares of NYSE ZWS opened at $35.31 on Friday. The company's 50 day simple moving average is $34.86 and its 200 day simple moving average is $35.56. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $41.15. The firm has a market capitalization of $5.94 billion, a P/E ratio of 35.67, a P/E/G ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.72.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. 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 firm earned $0.29 earnings per share. On average, analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor 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 paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date was Tuesday, May 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is 36.36%.

Analyst Ratings Changes

Several research analysts have commented on ZWS shares. Stifel Nicolaus raised their price objective on 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. Mizuho set a $36.00 price target on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Robert W. Baird decreased their target price on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group cut their price target on 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. 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 report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Hold" and an average target price of $36.29.

Insider Activity

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the stock in a transaction dated 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 now owns 94,132 shares in the company, valued at $3,500,769.08. This represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the 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 transaction, the chief financial officer now 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 disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

About Zurn Elkay Water Solutions Cor

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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