Victory Capital Management Inc. trimmed its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 32.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,278 shares of the company's stock after selling 235,695 shares during the period. Victory Capital Management Inc. owned about 0.29% of Zurn Elkay Water Solutions worth $17,477,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock valued at $94,161,000 after purchasing an additional 868,748 shares during the period. Dimensional Fund Advisors LP boosted its stake in Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company's stock valued at $49,846,000 after acquiring an additional 465,701 shares during the last quarter. Impax Asset Management Group plc boosted its stake in Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company's stock valued at $315,645,000 after acquiring an additional 346,412 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Zurn Elkay Water Solutions by 2.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company's stock valued at $386,286,000 after acquiring an additional 265,857 shares during the last quarter. Finally, Epoch Investment Partners Inc. bought a new position in Zurn Elkay Water Solutions during the 1st quarter valued at $7,674,000. 83.33% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have commented on ZWS. Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Mizuho increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Robert W. Baird increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, Oppenheimer increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of "Hold" and a consensus target price of $38.17.
Check Out Our Latest Analysis on Zurn Elkay Water Solutions
Zurn Elkay Water Solutions Stock Down 0.3 %
NYSE:ZWS traded down $0.11 during trading hours on Wednesday, reaching $38.81. 560,844 shares of the stock were exchanged, compared to its average volume of 1,112,942. Zurn Elkay Water Solutions Co. has a twelve month low of $27.55 and a twelve month high of $40.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The firm has a 50 day moving average of $36.43 and a 200 day moving average of $32.94. The stock has a market cap of $6.59 billion, a PE ratio of 49.13, a PEG ratio of 1.97 and a beta of 1.14.
Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The company had revenue of $410.00 million for the quarter, compared to analysts' expectations of $406.15 million. During the same quarter in the prior year, the business posted $0.29 EPS. The business's revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.
Zurn Elkay Water Solutions Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. This is a positive change from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions's dividend payout ratio is currently 45.57%.
Insider Buying and Selling at Zurn Elkay Water Solutions
In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David J. Pauli sold 4,070 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the transaction, the chief financial officer now owns 47,572 shares of the company's stock, valued at $1,862,443.80. This trade represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,688 shares of company stock valued at $8,400,151 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.
Zurn Elkay Water Solutions Profile
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Free Report)
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.
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