Voya Investment Management LLC Reduces Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Voya Investment Management LLC cut its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 50.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,161 shares of the company's stock after selling 77,380 shares during the period. Voya Investment Management LLC's holdings in Zurn Elkay Water Solutions were worth $2,804,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Barclays PLC lifted its position in Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company's stock worth $10,952,000 after purchasing an additional 140,624 shares during the period. Virtu Financial LLC bought a new stake in shares of Zurn Elkay Water Solutions in the third quarter worth $234,000. Principal Financial Group Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 49.6% in 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 in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Zurn Elkay Water Solutions by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company's stock valued at $58,077,000 after buying an additional 329,563 shares during the period. Finally, GAMMA Investing LLC raised its position 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 valued at $35,000 after buying an additional 544 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

ZWS stock traded up $0.64 on Thursday, reaching $34.89. 123,635 shares of the company were exchanged, compared to its average volume of 1,120,757. The stock's fifty day moving average price is $32.51 and its 200 day moving average price is $36.08. 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 Co. has a 12 month low of $27.74 and a 12 month high of $41.15. The firm has a market capitalization of $5.87 billion, a PE ratio of 37.92, a PEG ratio of 2.01 and a beta of 1.02.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.02. The business had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. During the same quarter last year, the firm earned $0.29 earnings per share. On average, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.36 annualized dividend and a yield of 1.03%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 36.36%.

Insider Transactions at Zurn Elkay Water Solutions

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the sale, the insider now owns 15,002,819 shares in the company, valued at $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the transaction, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. This trade represents a 12.37 % 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

ZWS has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Robert W. Baird lowered their price objective on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. BNP Paribas cut Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price target on the stock. in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group decreased 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $36.43.

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.