Duff & Phelps Investment Management Co. Sells 90,817 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Duff & Phelps Investment Management Co. lowered its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 21.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,283 shares of the company's stock after selling 90,817 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.20% of Zurn Elkay Water Solutions worth $11,978,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ZWS. Tortoise Investment Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company's stock worth $25,000 after acquiring an additional 373 shares in the last quarter. Quarry LP grew its position in shares of Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company's stock valued at $25,000 after acquiring an additional 536 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Zurn Elkay Water Solutions during the second quarter worth approximately $29,000. V Square Quantitative Management LLC bought a new position in Zurn Elkay Water Solutions in the 3rd quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company's stock worth $42,000 after buying an additional 1,267 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Price Performance

NYSE:ZWS traded up $0.52 during trading hours on Monday, reaching $40.93. 831,555 shares of the company traded hands, compared to its average volume of 1,096,125. The stock has a market cap of $6.95 billion, a P/E ratio of 51.80, a P/E/G ratio of 2.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. Zurn Elkay Water Solutions Co. has a 1-year low of $27.55 and a 1-year high of $40.99. The firm's 50-day moving average is $37.96 and its 200-day moving average is $33.62.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The company had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. Zurn Elkay Water Solutions's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. Equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.09 per share. This is an increase from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.88%. Zurn Elkay Water Solutions's payout ratio is presently 45.57%.

Insider Buying and Selling

In other news, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.00, for a total value of $351,225.00. Following the completion of the transaction, the director now owns 374,982 shares of the company's stock, valued at $13,124,370. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the sale, the vice president now directly owns 80,151 shares of the company's stock, valued at $2,608,915.05. This represents a 39.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 210,088 shares of company stock valued at $7,884,883 over the last ninety days. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Mizuho raised their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Oppenheimer raised their price target on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their price target on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of "Hold" and a consensus price target of $38.17.

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.