Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lessened its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 89.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,145 shares of the company's stock after selling 19,049 shares during the period. Tower Research Capital LLC TRC's holdings in Zurn Elkay Water Solutions were worth $80,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company's stock worth $35,000 after acquiring an additional 544 shares in the last quarter. Atala Financial Inc purchased a new stake in Zurn Elkay Water Solutions during the fourth quarter valued at $44,000. Tsfg LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at $56,000. Tortoise Investment Management LLC raised its position in shares of Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock valued at $65,000 after purchasing an additional 755 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new position in shares of Zurn Elkay Water Solutions in the fourth quarter worth about $82,000. Institutional investors own 83.33% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of 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. Stifel Nicolaus raised their price target 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, April 24th. BNP Paribas lowered Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a research note on Wednesday, April 9th. Finally, Robert W. Baird lowered their target price 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, April 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $36.43.

Zurn Elkay Water Solutions Price Performance

NYSE:ZWS traded up $0.26 during mid-day trading on Tuesday, hitting $37.46. The company's stock had a trading volume of 719,648 shares, compared to its average volume of 1,130,815. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 40.72, a P/E/G ratio of 2.01 and a beta of 1.02. The stock has a fifty day moving average of $32.60 and a 200-day moving average of $36.07. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.74 and a fifty-two week 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 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 for the quarter, compared to analyst estimates of $383.87 million. During the same period in the previous year, the firm earned $0.29 EPS. As a group, equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. Zurn Elkay Water Solutions's dividend payout ratio is presently 36.36%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the 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 transaction, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the company's stock in a transaction that occurred 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 owns 59,410 shares of the company's stock, valued at $2,107,272.70. This trade represents a 12.37% 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 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.