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

Janney Montgomery Scott LLC lessened its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 194,046 shares of the company's stock after selling 7,469 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.11% of Zurn Elkay Water Solutions Cor worth $6,400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atala Financial Inc purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $44,000. Tortoise Investment Management LLC lifted its position in Zurn Elkay Water Solutions Cor by 77.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock valued at $65,000 after acquiring an additional 755 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter valued at $82,000. Central Pacific Bank Trust Division boosted its stake in Zurn Elkay Water Solutions Cor by 31.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Zurn Elkay Water Solutions Cor 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 last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE:ZWS traded down $0.20 during trading on Wednesday, reaching $36.12. The company had a trading volume of 496,491 shares, compared to its average volume of 1,108,993. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.72. The stock's fifty day moving average price is $35.13 and its 200 day moving average price is $35.51. 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 $6.08 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.25 and a beta of 1.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $388.80 million for the quarter, compared to analysts' expectations of $383.87 million. During the same period in the previous year, the company posted $0.29 EPS. As a group, equities research 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 company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.36 annualized dividend and a yield of 1.00%. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 36.36%.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, CFO David J. Pauli sold 2,706 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total value of $100,419.66. Following the completion of the transaction, the chief financial officer now owns 60,772 shares in the company, valued at approximately $2,255,248.92. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $964,001.99. Following the sale, the vice president now 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 disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ZWS shares. Robert W. Baird reduced 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 report on Thursday, April 24th. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. The Goldman Sachs Group cut their target price 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 price target on shares of Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, BNP Paribas downgraded shares of Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 price objective on the stock. in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $36.29.

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.