Wellington Management Group LLP Lowers Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Wellington Management Group LLP lowered its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,988,418 shares of the company's stock after selling 1,246,383 shares during the period. Wellington Management Group LLP owned about 2.94% of Zurn Elkay Water Solutions worth $179,284,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ZWS. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Zurn Elkay Water Solutions by 2.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company's stock worth $386,286,000 after acquiring an additional 265,857 shares during the last quarter. Impax Asset Management Group plc grew its holdings in Zurn Elkay Water Solutions by 4.1% in the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company's stock worth $315,645,000 after acquiring an additional 346,412 shares during the last quarter. State Street Corp lifted its position in shares of Zurn Elkay Water Solutions by 63.8% in the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company's stock worth $195,585,000 after purchasing an additional 2,119,777 shares during the period. Principal Financial Group Inc. lifted its position in shares of 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 worth $94,161,000 after purchasing an additional 868,748 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Zurn Elkay Water Solutions by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,859,433 shares of the company's stock worth $66,828,000 after purchasing an additional 65,426 shares during the period. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Stock Up 1.3 %

NYSE ZWS traded up $0.52 during trading hours on Monday, reaching $40.93. 831,555 shares of the company's stock traded hands, compared to its average volume of 1,096,125. Zurn Elkay Water Solutions Co. has a 52-week low of $27.55 and a 52-week high of $40.99. The firm has a market cap of $6.95 billion, a PE ratio of 51.80, a PEG ratio of 2.05 and a beta of 1.14. The firm has a 50-day simple moving average of $37.96 and a 200 day simple moving average of $33.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The company had revenue of $410.00 million during the quarter, compared to analysts' expectations of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. Zurn Elkay Water Solutions's revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. Sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th were issued a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.88%. Zurn Elkay Water Solutions's payout ratio is 45.57%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZWS. Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Oppenheimer raised 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 research report on Tuesday, October 22nd. Robert W. Baird raised 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 research report on Thursday, October 31st. Finally, Mizuho raised 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 research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $38.17.

Insiders Place Their Bets

In other news, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the sale, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. The trade was a 39.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the sale, the director now owns 374,982 shares of the company's stock, valued at $13,124,370. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,088 shares of company stock valued at $7,884,883. Insiders own 3.00% of the company's stock.

Zurn Elkay Water Solutions Company 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.