Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 59.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,862 shares of the company's stock after selling 289,547 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of Zurn Elkay Water Solutions worth $7,003,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Quarry LP boosted its position in 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 in the last quarter. Tortoise Investment Management LLC boosted its position in Zurn Elkay Water Solutions by 76.7% during the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company's stock worth $25,000 after purchasing an additional 373 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Zurn Elkay Water Solutions during the second quarter worth $29,000. V Square Quantitative Management LLC purchased a new stake in Zurn Elkay Water Solutions during the third quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Zurn Elkay Water Solutions by 732.4% during the second 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 in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the sale, the director now owns 389,399 shares in the company, valued at $12,854,060.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the sale, the director now owns 389,399 shares in the company, valued at $12,854,060.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 15,600 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the sale, the director now owns 385,017 shares of the company's stock, valued at approximately $12,717,111.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,572 shares of company stock worth $3,473,472. 3.00% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Trading Up 0.3 %

Shares of Zurn Elkay Water Solutions stock traded up $0.09 during trading hours on Monday, reaching $36.06. The stock had a trading volume of 1,027,084 shares, compared to its average volume of 1,116,387. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 46.47, a P/E/G ratio of 1.94 and a beta of 1.14. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1 year low of $25.54 and a 1 year high of $38.11. The firm has a 50 day simple moving average of $34.20 and a two-hundred day simple moving average of $32.17.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $412.00 million for the quarter, compared to the consensus estimate of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The company's revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. This is an increase from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 41.03%.

Analyst Upgrades and Downgrades

ZWS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Finally, 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 report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $37.40.

Zurn Elkay Water Solutions 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.