T. Rowe Price Investment Management Inc. Sells 1,402,349 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

T. Rowe Price Investment Management Inc. trimmed its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 42.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,869,345 shares of the company's stock after selling 1,402,349 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.10% of Zurn Elkay Water Solutions worth $69,727,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Zurn Elkay Water Solutions by 11.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,051 shares of the company's stock valued at $3,621,000 after acquiring an additional 9,795 shares in the last quarter. State of Tennessee Department of Treasury increased its holdings in shares of Zurn Elkay Water Solutions by 35.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 63,845 shares of the company's stock worth $2,381,000 after buying an additional 16,555 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 6.9% during the 4th quarter. MetLife Investment Management LLC now owns 87,307 shares of the company's stock worth $3,257,000 after acquiring an additional 5,622 shares during the last quarter. Beck Mack & Oliver LLC increased its stake in Zurn Elkay Water Solutions by 0.5% in the fourth quarter. Beck Mack & Oliver LLC now owns 3,485,566 shares of the company's stock valued at $130,012,000 after acquiring an additional 17,090 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Zurn Elkay Water Solutions by 8.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,155,734 shares of the company's stock worth $80,411,000 after purchasing an additional 164,332 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

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 $504,094,718.40. This represents a 37.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at approximately $2,107,272.70. This trade 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on ZWS shares. BNP Paribas lowered 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. Robert W. Baird lowered their price target on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday. The Goldman Sachs Group lowered 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. Finally, Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of "Hold" and an average target price of $36.43.

Zurn Elkay Water Solutions Trading Down 0.4 %

NYSE:ZWS traded down $0.15 during trading hours on Monday, hitting $33.71. The company had a trading volume of 926,985 shares, compared to its average volume of 1,124,595. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The stock has a 50-day moving average price of $32.61 and a 200 day moving average price of $36.20. The company 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 52 week low of $27.74 and a 52 week high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its 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. 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 for the quarter, compared to analyst estimates of $383.87 million. During the same quarter in the previous year, the firm posted $0.29 EPS. On average, 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. Stockholders of record on Thursday, February 20th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio is currently 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.