Principal Financial Group Inc. Has $91.34 Million Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Principal Financial Group Inc. lowered its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,448,734 shares of the company's stock after selling 171,219 shares during the period. Principal Financial Group Inc. owned approximately 1.44% of Zurn Elkay Water Solutions worth $91,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased 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 worth $35,000 after acquiring an additional 544 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Zurn Elkay Water Solutions in the 3rd quarter valued at approximately $36,000. Tsfg LLC acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at approximately $56,000. KBC Group NV increased its stake in Zurn Elkay Water Solutions by 20.9% during the 3rd quarter. KBC Group NV now owns 3,978 shares of the company's stock worth $143,000 after purchasing an additional 688 shares in the last quarter. Finally, Millburn Ridgefield Corp raised its holdings in Zurn Elkay Water Solutions by 1,152.5% during the 3rd quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company's stock worth $186,000 after buying an additional 4,760 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the sale, the insider now directly owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now owns 59,410 shares of the company's stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Stock Down 1.3 %

ZWS traded down $0.45 during trading hours on Friday, hitting $34.90. 818,225 shares of the company's stock were exchanged, compared to its average volume of 1,020,165. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 2.02 and a beta of 1.15. Zurn Elkay Water Solutions Co. has a 1-year low of $28.25 and a 1-year high of $41.15. The stock's 50-day moving average is $37.67 and its two-hundred day moving average is $36.30. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio is currently 39.13%.

Analysts Set New Price Targets

ZWS has been the subject of several research analyst reports. Mizuho upped their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a "hold" rating in a report on Friday, January 24th. Finally, Robert W. Baird lifted 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.67.

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.