T. Rowe Price Investment Management Inc. Trims Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

T. Rowe Price Investment Management Inc. decreased its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 42.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,869,345 shares of the company's stock after selling 1,402,349 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.10% of Zurn Elkay Water Solutions worth $69,727,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ZWS. GAMMA Investing LLC lifted its stake in Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company's stock worth $35,000 after acquiring an additional 544 shares during the period. Atala Financial Inc purchased a new stake in Zurn Elkay Water Solutions in the fourth quarter worth $44,000. Tsfg LLC bought a new position in Zurn Elkay Water Solutions in the fourth quarter worth $56,000. Tortoise Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 77.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock worth $65,000 after purchasing an additional 755 shares in the last quarter. Finally, Caisse Des Depots ET Consignations bought a new position in Zurn Elkay Water Solutions in the fourth quarter worth $82,000. Hedge funds and other institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS traded up $0.32 during trading hours on Thursday, hitting $34.28. The company's stock had a trading volume of 209,064 shares, compared to its average volume of 1,120,758. Zurn Elkay Water Solutions Co. has a 12 month low of $27.74 and a 12 month high of $41.15. The company's 50 day simple moving average is $32.57 and its two-hundred day simple moving average is $36.17. The company has a market cap of $5.77 billion, a P/E ratio of 37.24, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81.

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 the consensus estimate 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 company had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. During the same period last year, the company earned $0.29 EPS. As a group, sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZWS. Robert W. Baird decreased their price objective on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. BNP Paribas downgraded Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a report on Wednesday, April 9th. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $36.43.

Insiders Place Their Bets

In other news, CFO David J. Pauli sold 8,390 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at $2,107,272.70. This represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction on Thursday, February 13th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

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.