DnB Asset Management AS Trims Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

DnB Asset Management AS reduced its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 59.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,767 shares of the company's stock after selling 15,507 shares during the period. DnB Asset Management AS's holdings in Zurn Elkay Water Solutions were worth $402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC grew its position in shares of Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company's stock valued at $10,952,000 after purchasing an additional 140,624 shares during the period. Principal Financial Group Inc. grew its holdings in Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock valued at $94,161,000 after buying an additional 868,748 shares during the period. JPMorgan Chase & Co. grew its holdings in Zurn Elkay Water Solutions by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company's stock valued at $58,077,000 after buying an additional 329,563 shares during the period. Geode Capital Management LLC increased its stake in shares of Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company's stock valued at $117,060,000 after acquiring an additional 35,570 shares during the last quarter. Finally, Perpetual Ltd lifted its holdings in shares of Zurn Elkay Water Solutions by 8.4% during the 4th quarter. Perpetual Ltd now owns 214,189 shares of the company's stock worth $7,989,000 after acquiring an additional 16,520 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

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Zurn Elkay Water Solutions Trading Down 0.2 %

NYSE ZWS traded down $0.05 during mid-day trading on Monday, hitting $29.60. The company's stock had a trading volume of 1,985,936 shares, compared to its average volume of 1,095,997. The firm has a market capitalization of $5.00 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. Zurn Elkay Water Solutions Co. has a 52-week low of $28.25 and a 52-week high of $41.15. The stock's fifty day simple moving average is $35.03 and its two-hundred day simple moving average is $36.82.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. Research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio is presently 39.13%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $299,460,000.00. Following the completion of the transaction, the insider now directly owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ZWS. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a report on Friday, January 24th. The Goldman Sachs Group decreased their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $37.67.

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.