Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,263,984 shares of the company's stock after selling 220,474 shares during the quarter. Jennison Associates LLC owned 0.74% of Zurn Elkay Water Solutions worth $47,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZWS. Quarry LP lifted its position in shares of Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company's stock worth $25,000 after purchasing an additional 536 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company's stock valued at $35,000 after acquiring an additional 544 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Zurn Elkay Water Solutions in the third quarter valued at about $36,000. Tsfg LLC purchased a new position in Zurn Elkay Water Solutions in the fourth quarter valued at about $56,000. Finally, KBC Group NV grew its stake in Zurn Elkay Water Solutions by 20.9% in the third quarter. KBC Group NV now owns 3,978 shares of the company's stock valued at $143,000 after purchasing an additional 688 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZWS has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a research report on Friday, January 24th. Mizuho upped their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Finally, Robert W. Baird upped their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.67.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock traded down $0.12 during trading hours on Friday, hitting $38.19. 733,554 shares of the company's stock were exchanged, compared to its average volume of 892,466. 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 cap of $6.48 billion, a P/E ratio of 41.51, a P/E/G ratio of 1.78 and a beta of 1.15. The firm has a 50 day moving average of $38.46 and a two-hundred day moving average of $36.03. Zurn Elkay Water Solutions Co. has a fifty-two week low of $28.25 and a fifty-two week high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.01% and a net margin of 10.23%. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.35 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Thursday, February 20th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.94%. The ex-dividend date is Thursday, February 20th. Zurn Elkay Water Solutions's payout ratio is currently 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.