Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,028 shares of the company's stock after selling 30,834 shares during the period. Allspring Global Investments Holdings LLC owned 0.10% of Zurn Elkay Water Solutions worth $6,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ZWS. GAMMA Investing LLC boosted its stake in Zurn Elkay Water Solutions by 138.4% during the fourth 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. Tsfg LLC purchased a new position in Zurn Elkay Water Solutions during the fourth quarter worth about $56,000. KBC Group NV boosted its stake in Zurn Elkay Water Solutions by 20.9% during the third quarter. KBC Group NV now owns 3,978 shares of the company's stock worth $143,000 after buying an additional 688 shares during the period. Millburn Ridgefield Corp boosted its stake in Zurn Elkay Water Solutions by 1,152.5% during the third quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company's stock worth $186,000 after buying an additional 4,760 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Zurn Elkay Water Solutions in the third quarter valued at approximately $234,000. Hedge funds and other institutional investors own 83.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Mizuho raised their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of "Moderate Buy" and an average target price of $38.67.

Zurn Elkay Water Solutions Stock Performance

NYSE:ZWS traded down $0.45 during midday trading on Friday, reaching $34.90. The stock had a trading volume of 818,225 shares, compared to its average volume of 1,069,865. The firm has a fifty day simple moving average of $37.57 and a two-hundred day simple moving average of $36.34. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15. 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 stock has a market cap of $5.93 billion, a P/E ratio of 37.93, a P/E/G ratio of 2.01 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. On average, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. Zurn Elkay Water Solutions's payout ratio is currently 39.13%.

Insiders Place Their Bets

In other news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions 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 completion of the transaction, the chief financial officer now 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 filing with the SEC, which is available through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions 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 transaction, the insider now directly owns 15,002,819 shares of the company's stock, valued at $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 3.80% 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.