Jane Street Group LLC Sells 146,065 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Jane Street Group LLC decreased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 61.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,487 shares of the company's stock after selling 146,065 shares during the quarter. Jane Street Group LLC owned 0.05% of Zurn Elkay Water Solutions worth $3,288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ZWS. &PARTNERS bought a new stake in Zurn Elkay Water Solutions in the 2nd quarter worth approximately $446,000. Whittier Trust Co. of Nevada Inc. raised its position in Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company's stock worth $42,000 after purchasing an additional 1,267 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Zurn Elkay Water Solutions in the second quarter worth $2,076,000. Principal Financial Group Inc. boosted its position in Zurn Elkay Water Solutions by 24.1% during the second quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company's stock valued at $51,485,000 after buying an additional 339,892 shares during the period. Finally, Peregrine Capital Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 290,314 shares of the company's stock worth $8,535,000 after buying an additional 3,778 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZWS. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. Robert W. Baird upped their price target on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Mizuho raised their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, Oppenheimer boosted their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.50.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now owns 345,017 shares of the company's stock, valued at approximately $12,969,189.03. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the sale, the chief executive officer now directly owns 2,242,867 shares of the company's stock, valued at approximately $89,333,392.61. This trade represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,202 shares of company stock valued at $5,813,358. Company insiders own 3.00% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock traded up $0.33 during trading on Friday, hitting $37.48. 3,747,659 shares of the company's stock traded hands, compared to its average volume of 1,101,397. Zurn Elkay Water Solutions Co. has a 1 year low of $27.55 and a 1 year high of $41.15. The business has a 50-day simple moving average of $38.56 and a 200-day simple moving average of $34.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The stock has a market capitalization of $6.36 billion, a P/E ratio of 47.44, a PEG ratio of 2.02 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm's revenue was up 2.9% on a year-over-year basis. As a group, analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were issued a $0.09 dividend. This is a boost from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Wednesday, November 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is currently 45.57%.

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.