Epoch Investment Partners Inc. Reduces Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Epoch Investment Partners Inc. decreased its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 78.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,871 shares of the company's stock after selling 31,952 shares during the period. Epoch Investment Partners Inc.'s holdings in Zurn Elkay Water Solutions were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its position in shares of Zurn Elkay Water Solutions by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock valued at $132,661,000 after purchasing an additional 2,304,285 shares during the last quarter. Jump Financial LLC purchased a new stake in Zurn Elkay Water Solutions during the fourth quarter valued at approximately $759,000. XTX Topco Ltd raised its position in Zurn Elkay Water Solutions by 312.6% in the fourth quarter. XTX Topco Ltd now owns 26,859 shares of the company's stock worth $1,002,000 after acquiring an additional 20,349 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Zurn Elkay Water Solutions by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company's stock worth $562,000 after acquiring an additional 477 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at $876,000. Hedge funds and other institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock traded up $0.10 on Friday, hitting $33.83. 958,941 shares of the company traded hands, compared to its average volume of 1,125,038. Zurn Elkay Water Solutions Co. has a 52 week low of $27.74 and a 52 week high of $41.15. The business has a 50-day simple moving average of $32.65 and a 200 day simple moving average of $36.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The stock has a market capitalization of $5.71 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. The business had revenue of $388.80 million for the quarter, compared to analysts' expectations of $383.87 million. During the same quarter in the previous year, the company earned $0.29 EPS. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.06%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 36.36%.

Insider Activity

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 sale, the insider now directly 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 document filed with the SEC, which is available at this link. 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 transaction, the chief financial officer now owns 59,410 shares of the company's stock, 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. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

ZWS has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Robert W. Baird reduced their target price on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday. BNP Paribas downgraded shares of 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, Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average 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.