Granite Investment Partners LLC Trims Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Granite Investment Partners LLC reduced its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 17.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,319 shares of the company's stock after selling 19,896 shares during the quarter. Granite Investment Partners LLC owned about 0.05% of Zurn Elkay Water Solutions worth $3,406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company's stock valued at $35,000 after purchasing an additional 544 shares during the period. Atala Financial Inc acquired a new position in Zurn Elkay Water Solutions in the fourth quarter valued at approximately $44,000. Tsfg LLC purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter worth approximately $56,000. Tortoise Investment Management LLC grew its stake in shares of Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock worth $65,000 after purchasing an additional 755 shares during the period. Finally, Caisse Des Depots ET Consignations acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $82,000. Hedge funds and other institutional investors own 83.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BNP Paribas downgraded shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a research report on Wednesday, April 9th. Stifel Nicolaus raised shares of Zurn Elkay Water Solutions from a "hold" rating to a "buy" rating and decreased their price objective for the company from $39.00 to $34.00 in a report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions currently has an average rating of "Hold" and a consensus price target of $35.71.

Insiders Place Their Bets

In other news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares in the company, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Trading Up 1.5 %

Shares of ZWS traded up $0.44 during mid-day trading on Friday, reaching $30.04. The stock had a trading volume of 1,139,933 shares, compared to its average volume of 1,116,422. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The business's fifty day moving average is $33.01 and its 200 day moving average is $36.36. Zurn Elkay Water Solutions Co. has a 52-week low of $27.74 and a 52-week high of $41.15. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 2.01 and a beta of 1.08.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. On average, sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 39.13%.

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.