Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock Position Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 84.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,093 shares of the company's stock after selling 305,900 shares during the quarter. Renaissance Technologies LLC's holdings in Zurn Elkay Water Solutions were worth $2,167,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of the company's stock in a transaction dated 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 in the company, valued at $2,107,272.70. This represents a 12.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now directly owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on ZWS shares. BNP Paribas lowered Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 target price on the stock. in a report on Wednesday, April 9th. The Goldman Sachs Group lowered 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. Robert W. Baird decreased their target price on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus boosted their target price on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $36.43.

Zurn Elkay Water Solutions Trading Up 1.8 %

Shares of Zurn Elkay Water Solutions stock traded up $0.61 during trading on Thursday, reaching $34.57. 79,205 shares of the stock were exchanged, compared to its average volume of 1,120,255. Zurn Elkay Water Solutions Co. has a 1 year low of $27.74 and a 1 year high of $41.15. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The stock's fifty day moving average is $32.57 and its 200 day moving average is $36.17. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. The business had revenue of $388.80 million during the quarter, compared to analysts' expectations of $383.87 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. As a group, equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

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.