Zurn Elkay Water Solutions Cor (NYSE:ZWS) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,205,297 shares of the company's stock after selling 58,687 shares during the quarter. Jennison Associates LLC owned 0.72% of Zurn Elkay Water Solutions Cor worth $39,751,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ZWS. HM Payson & Co. purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at approximately $37,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $82,000. Central Pacific Bank Trust Division increased its position in shares of Zurn Elkay Water Solutions Cor by 31.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after purchasing an additional 1,040 shares during the last quarter. Shelton Capital Management purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $209,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $221,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Up 0.5%

Shares of NYSE ZWS opened at $37.53 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $41.15. The firm has a 50-day moving average price of $36.61 and a 200 day moving average price of $35.34. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 37.91, a price-to-earnings-growth ratio of 2.33 and a beta of 0.99.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its earnings results 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. The company had revenue of $388.80 million during the quarter, compared to analysts' expectations of $383.87 million. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. During the same quarter in the previous year, the business posted $0.29 earnings per share. Equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.96%. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is presently 36.36%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, CFO David J. Pauli sold 2,706 shares of the business's stock in a transaction that occurred on 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 directly owned 60,772 shares in the company, valued at approximately $2,255,248.92. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 25,921 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $37.19, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

ZWS has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped 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 research report on Wednesday, April 2nd. BNP Paribas downgraded shares of 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 report on Wednesday, April 9th. 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. Robert W. Baird decreased their price target 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 note on Thursday, April 24th. Finally, Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of "Hold" and a consensus price target 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.

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