Thematics Asset Management Reduces Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Thematics Asset Management reduced its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 248,371 shares of the company's stock after selling 15,756 shares during the period. Thematics Asset Management owned about 0.15% of Zurn Elkay Water Solutions worth $9,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. increased its holdings in Zurn Elkay Water Solutions by 26.8% in the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock worth $219,335,000 after acquiring an additional 1,242,642 shares in the last quarter. First Trust Advisors LP grew its position in shares of Zurn Elkay Water Solutions by 184.0% in the fourth quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock valued at $132,661,000 after purchasing an additional 2,304,285 shares during the period. Beck Mack & Oliver LLC increased its stake in shares of Zurn Elkay Water Solutions by 0.5% during the fourth quarter. Beck Mack & Oliver LLC now owns 3,485,566 shares of the company's stock worth $130,012,000 after purchasing an additional 17,090 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock worth $94,161,000 after purchasing an additional 868,748 shares during the last quarter. Finally, Crescent Grove Advisors LLC lifted its stake in Zurn Elkay Water Solutions by 5.7% in the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company's stock valued at $90,842,000 after buying an additional 130,732 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ZWS shares. The Goldman Sachs Group cut their price objective on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. BNP Paribas lowered Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective on the stock. in a report on Wednesday, April 9th. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Robert W. Baird decreased their price target on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of "Hold" and a consensus target price of $36.43.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Trading Down 0.4 %

Shares of Zurn Elkay Water Solutions stock traded down $0.12 during mid-day trading on Friday, hitting $33.61. The stock had a trading volume of 352,076 shares, compared to its average volume of 1,124,855. The firm has a market cap of $5.67 billion, a P/E ratio of 36.54, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $32.69 and a two-hundred day moving average of $36.23. Zurn Elkay Water Solutions Co. has a 12-month low of $27.74 and a 12-month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share (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 analysts' expectations of $383.87 million. During the same quarter last year, the firm earned $0.29 earnings per share. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 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.