Renaissance Technologies LLC Lowers Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Renaissance Technologies LLC cut its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 84.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,093 shares of the company's stock after selling 305,900 shares during the quarter. Renaissance Technologies LLC's holdings in Zurn Elkay Water Solutions were worth $2,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ZWS. GAMMA Investing LLC lifted its holdings in Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company's stock valued at $35,000 after purchasing an additional 544 shares during the last quarter. Atala Financial Inc bought a new position in Zurn Elkay Water Solutions in the 4th quarter valued at about $44,000. Tsfg LLC acquired a new stake in Zurn Elkay Water Solutions during the fourth quarter worth approximately $56,000. Tortoise Investment Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 77.4% during the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock worth $65,000 after acquiring an additional 755 shares during the period. Finally, Caisse Des Depots ET Consignations acquired a new position in shares of Zurn Elkay Water Solutions in the fourth quarter valued at approximately $82,000. 83.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group reduced their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Robert W. Baird reduced their target price on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday. BNP Paribas cut shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a research note on Wednesday, April 9th. Finally, Stifel Nicolaus increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $36.43.

Insider Activity

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the sale, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now directly owns 59,410 shares in the company, valued at approximately $2,107,272.70. This represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock traded down $0.15 during trading on Monday, reaching $33.71. 926,985 shares of the company's stock were exchanged, compared to its average volume of 1,124,595. The firm's 50-day moving average price is $32.61 and its 200 day moving average price is $36.20. The company has a market cap of $5.69 billion, a P/E ratio of 36.64, a PEG ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. Zurn Elkay Water Solutions Co. has a 1-year low of $27.74 and a 1-year high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.02. The company had revenue of $388.80 million for the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. During the same period last year, the company posted $0.29 EPS. As a group, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.07%. Zurn Elkay Water Solutions's dividend payout ratio is presently 36.36%.

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.