IQ EQ FUND MANAGEMENT IRELAND Ltd Has $837,000 Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 67.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,439 shares of the company's stock after selling 47,238 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Zurn Elkay Water Solutions were worth $837,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Zurn Elkay Water Solutions by 19.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,935,839 shares of the company's stock worth $72,207,000 after buying an additional 319,895 shares during the period. LPL Financial LLC raised its holdings in shares of Zurn Elkay Water Solutions by 7.2% during the fourth quarter. LPL Financial LLC now owns 96,080 shares of the company's stock worth $3,584,000 after acquiring an additional 6,477 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at $1,126,000. Sei Investments Co. boosted its stake in Zurn Elkay Water Solutions by 2.5% in the 4th quarter. Sei Investments Co. now owns 194,054 shares of the company's stock worth $7,238,000 after purchasing an additional 4,737 shares during the period. Finally, American Century Companies Inc. increased its holdings in Zurn Elkay Water Solutions by 2.6% during the 4th quarter. American Century Companies Inc. now owns 45,790 shares of the company's stock worth $1,708,000 after purchasing an additional 1,154 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $38.40.

Insider Buying and Selling

In related news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction dated 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 completion of the transaction, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. This 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 corporate insiders.

Zurn Elkay Water Solutions Stock Down 0.0 %

NYSE:ZWS traded down $0.01 on Monday, hitting $32.95. 389,724 shares of the company's stock were exchanged, compared to its average volume of 976,916. The firm has a 50-day moving average price of $35.89 and a 200-day moving average price of $36.91. Zurn Elkay Water Solutions Co. has a 52 week low of $28.25 and a 52 week high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The company has a market cap of $5.56 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16.

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

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors 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 dividend yield of 1.09%. Zurn Elkay Water Solutions's dividend payout ratio is presently 39.13%.

About Zurn Elkay Water Solutions

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.