Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock Position Lowered by Stifel Financial Corp

Stifel Financial Corp lessened its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 511,294 shares of the company's stock after selling 14,416 shares during the quarter. Stifel Financial Corp owned 0.30% of Zurn Elkay Water Solutions worth $19,071,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC grew its position in Zurn Elkay Water Solutions by 3.2% in the fourth quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after acquiring an additional 269 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in Zurn Elkay Water Solutions by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock valued at $205,000 after acquiring an additional 344 shares in the last quarter. Sanctuary Advisors LLC grew its position in Zurn Elkay Water Solutions by 0.7% in the fourth quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock valued at $2,288,000 after acquiring an additional 389 shares in the last quarter. Venturi Wealth Management LLC grew its position in Zurn Elkay Water Solutions by 4.8% in the fourth quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock valued at $352,000 after acquiring an additional 430 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its position in Zurn Elkay Water Solutions by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company's stock valued at $562,000 after acquiring an additional 477 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now directly owns 15,002,819 shares of the company's stock, valued at $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now directly owns 59,410 shares of the company's stock, 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. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ZWS shares. The Goldman Sachs Group reduced their target price 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. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday. Robert W. Baird reduced their target price on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, BNP Paribas cut Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 target price for the company. in a research note on Wednesday, April 9th. 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.com, the company has a consensus rating of "Hold" and an average price target of $36.43.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded down $0.15 during midday trading on Monday, hitting $33.71. 926,985 shares of the stock traded hands, compared to its average volume of 1,124,595. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The business's 50 day moving average price is $32.61 and its two-hundred day moving average price is $36.20. The firm has a market capitalization of $5.69 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. 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 earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. The firm had revenue of $388.80 million during the quarter, compared to analysts' expectations of $383.87 million. During the same quarter in the prior year, the firm earned $0.29 EPS. Equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal 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. This represents a $0.36 annualized dividend and a yield of 1.07%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 36.36%.

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.