CIBC Private Wealth Group LLC Sells 14,267 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

CIBC Private Wealth Group LLC cut its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 515,604 shares of the company's stock after selling 14,267 shares during the quarter. CIBC Private Wealth Group LLC owned 0.30% of Zurn Elkay Water Solutions worth $19,057,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ZWS. FMR LLC boosted its position in shares of Zurn Elkay Water Solutions by 11.2% during the 3rd quarter. FMR LLC now owns 14,070 shares of the company's stock valued at $506,000 after purchasing an additional 1,416 shares in the last quarter. Captrust Financial Advisors lifted its stake in Zurn Elkay Water Solutions by 7.8% during the third quarter. Captrust Financial Advisors now owns 7,832 shares of the company's stock valued at $281,000 after purchasing an additional 570 shares during the last quarter. Verition Fund Management LLC boosted its holdings in Zurn Elkay Water Solutions by 67.3% during the third quarter. Verition Fund Management LLC now owns 75,430 shares of the company's stock worth $2,711,000 after buying an additional 30,337 shares in the last quarter. Benjamin Edwards Inc. grew its position in Zurn Elkay Water Solutions by 687.7% in the third quarter. Benjamin Edwards Inc. now owns 12,856 shares of the company's stock worth $462,000 after buying an additional 11,224 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Zurn Elkay Water Solutions by 3.3% in the third quarter. HighTower Advisors LLC now owns 8,092 shares of the company's stock valued at $293,000 after buying an additional 259 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the business's stock in a transaction dated 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 owns 15,002,819 shares in the company, valued at $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the firm's 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 sale, the chief financial officer now directly 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ZWS shares. The Goldman Sachs Group reduced 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. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $37.67.

Zurn Elkay Water Solutions Stock Down 8.5 %

Shares of ZWS traded down $2.83 during mid-day trading on Thursday, reaching $30.66. The company's stock had a trading volume of 1,372,832 shares, compared to its average volume of 1,084,861. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16. The business has a fifty day moving average of $35.57 and a 200 day moving average of $36.89. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1 year low of $28.25 and a 1 year high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping 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%. As a group, analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were paid a $0.09 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.17%. Zurn Elkay Water Solutions's dividend payout ratio 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.