Bank of New York Mellon Corp Lowers Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Bank of New York Mellon Corp cut its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 6.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,767,469 shares of the company's stock after selling 117,342 shares during the period. Bank of New York Mellon Corp owned about 1.04% of Zurn Elkay Water Solutions worth $65,927,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 544 shares in the last quarter. Tsfg LLC bought a new stake in Zurn Elkay Water Solutions in the 4th quarter worth approximately $56,000. KBC Group NV boosted its stake in Zurn Elkay Water Solutions by 20.9% in 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 in the last quarter. Millburn Ridgefield Corp grew its position 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 valued at $186,000 after acquiring an additional 4,760 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Zurn Elkay Water Solutions during the third quarter valued at approximately $234,000. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Trading Up 0.8 %

ZWS stock traded up $0.29 during trading on Thursday, hitting $34.56. 1,008,753 shares of the company traded hands, compared to its average volume of 1,000,655. The company has a 50-day moving average of $37.08 and a 200-day moving average of $36.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. Zurn Elkay Water Solutions Co. has a 1 year low of $28.25 and a 1 year high of $41.15. The firm has a market capitalization of $5.88 billion, a PE ratio of 37.56, a P/E/G ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. Analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared 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 is Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.04%. Zurn Elkay Water Solutions's payout ratio is currently 39.13%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, 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 completion of the transaction, the insider now owns 15,002,819 shares of the company's stock, valued at $504,094,718.40. This represents a 37.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on 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 sale, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. This represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.80% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a "hold" rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.67.

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.