Essex Investment Management Co. LLC Lowers Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Essex Investment Management Co. LLC decreased its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 30.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,049 shares of the company's stock after selling 42,178 shares during the period. Essex Investment Management Co. LLC owned approximately 0.06% of Zurn Elkay Water Solutions worth $2,884,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ZWS. Principal Securities Inc. bought a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at approximately $34,000. Benjamin Edwards Inc. purchased a new position in Zurn Elkay Water Solutions in the fourth quarter worth about $42,000. Global Retirement Partners LLC lifted its position in Zurn Elkay Water Solutions by 85.4% in the 4th quarter. Global Retirement Partners LLC now owns 3,294 shares of the company's stock valued at $93,000 after acquiring an additional 1,517 shares in the last quarter. Arlington Trust Co LLC bought a new position in shares of Zurn Elkay Water Solutions during the fourth quarter valued at $125,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 16.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company's stock valued at $203,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE:ZWS traded up $0.39 on Friday, hitting $32.78. 471,807 shares of the company were exchanged, compared to its average volume of 971,622. Zurn Elkay Water Solutions Co. has a 1-year low of $20.70 and a 1-year high of $34.58. The stock's 50 day moving average price is $32.05 and its 200 day moving average price is $30.45. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $5.66 billion, a P/E ratio of 46.17, a price-to-earnings-growth ratio of 1.71 and a beta of 1.21.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The business had revenue of $374.00 million during the quarter, compared to the consensus estimate of $369.43 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The business's revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, May 20th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. Zurn Elkay Water Solutions's dividend payout ratio is presently 45.07%.

Insider Activity at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 1,223 shares of the business's stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $32.20, for a total transaction of $39,380.60. Following the completion of the transaction, the insider now directly owns 24,947,709 shares in the company, valued at $803,316,229.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Ice Mountain Llc sold 1,223 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $32.20, for a total value of $39,380.60. Following the completion of the transaction, the insider now owns 24,947,709 shares in the company, valued at approximately $803,316,229.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Christopoul sold 10,495 shares of the business's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $32.11, for a total transaction of $336,994.45. Following the sale, the director now directly owns 104,844 shares of the company's stock, valued at approximately $3,366,540.84. The disclosure for this sale can be found here. Insiders sold 510,098 shares of company stock worth $16,338,086 over the last three months. Company insiders own 3.80% of the company's stock.

Analyst Upgrades and Downgrades

ZWS has been the subject of several research reports. BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an "outperform" rating and a $40.00 price target for the company. Mizuho cut Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 price target on the stock. in a report on Friday, February 9th. Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions presently has a consensus rating of "Hold" and an average price target of $33.50.

Zurn Elkay Water Solutions Company 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.

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