Kayne Anderson Rudnick Investment Management LLC Has $505.91 Million Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Kayne Anderson Rudnick Investment Management LLC lifted its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,563,362 shares of the company's stock after acquiring an additional 91,758 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 7.98% of Zurn Elkay Water Solutions worth $505,913,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC boosted its holdings in Zurn Elkay Water Solutions by 3.3% in the third quarter. HighTower Advisors LLC now owns 8,092 shares of the company's stock worth $293,000 after purchasing an additional 259 shares in the last quarter. DAVENPORT & Co LLC boosted its position in Zurn Elkay Water Solutions by 3.2% during the fourth quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock worth $319,000 after purchasing an additional 269 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Zurn Elkay Water Solutions by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock valued at $205,000 after purchasing an additional 344 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Zurn Elkay Water Solutions by 0.7% in the fourth quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock valued at $2,288,000 after purchasing an additional 389 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 4.8% during the 4th quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock worth $352,000 after buying an additional 430 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zurn Elkay Water Solutions

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the sale, the insider now owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions 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 transaction, the chief financial officer now owns 59,410 shares of the company's stock, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday. The Goldman Sachs Group dropped their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, BNP Paribas cut 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $36.43.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE:ZWS traded down $0.12 during trading on Friday, hitting $33.61. 352,076 shares of the stock were exchanged, compared to its average volume of 1,124,855. The company's fifty day simple moving average is $32.69 and its 200-day simple moving average is $36.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. Zurn Elkay Water Solutions Co. has a 1-year low of $27.74 and a 1-year high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 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 the consensus estimate of $383.87 million. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. During the same period last year, the firm earned $0.29 EPS. Sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. Zurn Elkay Water Solutions's dividend payout ratio is currently 39.13%.

Zurn Elkay Water Solutions Profile

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.