Peregrine Capital Management LLC Sells 49,416 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Peregrine Capital Management LLC cut its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 286,441 shares of the company's stock after selling 49,416 shares during the period. Peregrine Capital Management LLC owned about 0.17% of Zurn Elkay Water Solutions worth $8,424,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in Zurn Elkay Water Solutions by 50.0% in the second quarter. IFP Advisors Inc now owns 1,500 shares of the company's stock valued at $40,000 after purchasing an additional 500 shares during the period. Gabelli Funds LLC increased its holdings in Zurn Elkay Water Solutions by 1.5% in the fourth quarter. Gabelli Funds LLC now owns 33,600 shares of the company's stock valued at $711,000 after purchasing an additional 500 shares during the period. FMR LLC increased its holdings in Zurn Elkay Water Solutions by 7.3% in the third quarter. FMR LLC now owns 8,153 shares of the company's stock valued at $228,000 after purchasing an additional 558 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in Zurn Elkay Water Solutions by 3.5% in the first quarter. Moneta Group Investment Advisors LLC now owns 19,623 shares of the company's stock valued at $419,000 after purchasing an additional 660 shares during the period. Finally, Fiera Capital Corp increased its holdings in Zurn Elkay Water Solutions by 0.7% in the third quarter. Fiera Capital Corp now owns 119,908 shares of the company's stock valued at $3,360,000 after purchasing an additional 781 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zurn Elkay Water Solutions

In other news, VP Sudhanshu Chhabra sold 4,231 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $31.29, for a total transaction of $132,387.99. Following the transaction, the vice president now owns 80,594 shares of the company's stock, valued at approximately $2,521,786.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Todd A. Adams sold 129,604 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the transaction, the chief executive officer now owns 1,828,550 shares of the company's stock, valued at approximately $60,451,863. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sudhanshu Chhabra sold 4,231 shares of the firm's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $31.29, for a total transaction of $132,387.99. Following the completion of the transaction, the vice president now directly owns 80,594 shares in the company, valued at approximately $2,521,786.26. The disclosure for this sale can be found here. Insiders have sold 343,243 shares of company stock valued at $11,217,501 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Stifel Nicolaus downgraded Zurn Elkay Water Solutions from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Tuesday, December 19th. BNP Paribas started coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an "outperform" rating and a $40.00 price objective for the company. KeyCorp downgraded Zurn Elkay Water Solutions from an "overweight" rating to a "sector weight" rating in a report on Wednesday, December 13th. Finally, Mizuho downgraded Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 price target for the company. in a report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Zurn Elkay Water Solutions has an average rating of "Hold" and an average price target of $32.25.

Zurn Elkay Water Solutions Stock Down 2.4 %

Shares of ZWS stock traded down $0.77 on Wednesday, reaching $31.75. 779,622 shares of the company were exchanged, compared to its average volume of 969,902. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 48.85, a PEG ratio of 1.78 and a beta of 1.22. The company has a 50-day moving average of $31.91 and a 200-day moving average of $29.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. Zurn Elkay Water Solutions Co. has a one year low of $20.06 and a one year high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Monday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.03. The company had revenue of $356.80 million for the quarter, compared to analysts' expectations of $350.55 million. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The business's revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 49.23%.

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.