Huntington National Bank Sells 76,629 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Huntington National Bank cut its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 843,593 shares of the company's stock after selling 76,629 shares during the period. Huntington National Bank owned 0.50% of Zurn Elkay Water Solutions worth $30,319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC increased its position in Zurn Elkay Water Solutions by 63.5% during the third quarter. Venturi Wealth Management LLC now owns 9,011 shares of the company's stock worth $324,000 after buying an additional 3,498 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Zurn Elkay Water Solutions by 2.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 61,813 shares of the company's stock valued at $2,222,000 after acquiring an additional 1,594 shares during the period. Principal Financial Group Inc. lifted its holdings in Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock valued at $94,161,000 after purchasing an additional 868,748 shares during the last quarter. Amalgamated Bank boosted its position in Zurn Elkay Water Solutions by 714.9% during the third quarter. Amalgamated Bank now owns 42,368 shares of the company's stock worth $1,523,000 after purchasing an additional 37,169 shares during the period. Finally, Impax Asset Management Group plc increased its holdings in shares of Zurn Elkay Water Solutions by 4.1% in the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company's stock valued at $315,645,000 after purchasing an additional 346,412 shares during the last quarter. 83.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ZWS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Oppenheimer boosted their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Mizuho increased their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Robert W. Baird boosted their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of "Hold" and an average price target of $38.17.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE:ZWS traded down $0.28 during trading on Thursday, reaching $39.13. 160,494 shares of the company traded hands, compared to its average volume of 1,116,975. Zurn Elkay Water Solutions Co. has a 52 week low of $27.55 and a 52 week high of $40.64. The company's 50 day moving average is $35.81 and its two-hundred day moving average is $32.72. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.64 billion, a PE ratio of 49.89, a PEG ratio of 1.99 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data 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. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The business had revenue of $410.00 million for the quarter, compared to analysts' expectations of $406.15 million. During the same period last year, the firm posted $0.29 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. This is a boost from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions's payout ratio is 40.51%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the sale, the director now directly owns 385,017 shares in the company, valued at approximately $12,717,111.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the transaction, the director now owns 385,017 shares in the company, valued at approximately $12,717,111.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction on 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 approximately $2,608,915.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,688 shares of company stock worth $8,400,151. 3.80% of the stock is currently owned by company insiders.

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.