Huntington National Bank Sells 138,371 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Huntington National Bank trimmed its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 705,222 shares of the company's stock after selling 138,371 shares during the quarter. Huntington National Bank owned about 0.42% of Zurn Elkay Water Solutions worth $26,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in shares of Zurn Elkay Water Solutions by 291.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 71,111 shares of the company's stock worth $2,652,000 after purchasing an additional 52,964 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in Zurn Elkay Water Solutions by 99.9% in the 4th quarter. HighPoint Advisor Group LLC now owns 275,545 shares of the company's stock worth $10,190,000 after buying an additional 137,683 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 180.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 17,777 shares of the company's stock worth $663,000 after buying an additional 11,428 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Zurn Elkay Water Solutions by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 21,820 shares of the company's stock valued at $814,000 after buying an additional 3,697 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in shares of Zurn Elkay Water Solutions by 10.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 367,857 shares of the company's stock worth $13,721,000 after acquiring an additional 34,574 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the 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 completion of the transaction, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David J. Pauli sold 8,390 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now owns 59,410 shares in the company, 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. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $37.67.

Zurn Elkay Water Solutions Trading Down 1.0 %

Shares of ZWS stock traded down $0.31 during trading hours on Monday, reaching $29.34. The company's stock had a trading volume of 774,764 shares, compared to its average volume of 991,209. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.95 billion, a P/E ratio of 31.89, a P/E/G ratio of 2.01 and a beta of 1.08. The firm's fifty day simple moving average is $35.22 and its 200 day simple moving average is $36.86. Zurn Elkay Water Solutions Co. has a one year low of $28.25 and a one year high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, beating 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%. Equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions's payout ratio is currently 39.13%.

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.