Zurcher Kantonalbank Zurich Cantonalbank Cuts Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 18.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 64,747 shares of the company’s stock after selling 14,592 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zurn Elkay Water Solutions were worth $1,904,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Alliance purchased a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth about $228,000. Strs Ohio increased its stake in shares of Zurn Elkay Water Solutions by 235.5% during the fourth quarter. Strs Ohio now owns 46,300 shares of the company’s stock worth $1,361,000 after purchasing an additional 32,500 shares in the last quarter. Simplicity Solutions LLC purchased a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth about $545,000. NewEdge Wealth LLC purchased a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth about $3,130,000. Finally, Sapient Capital LLC purchased a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth about $601,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

ZWS has been the subject of a number of research reports. BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price for the company. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Friday, February 9th. Finally, Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.75.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $32.12 on Thursday. The company’s 50 day simple moving average is $31.94 and its 200-day simple moving average is $29.98. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 45.24, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22. Zurn Elkay Water Solutions Co. has a 1 year low of $20.06 and a 1 year high of $34.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.02.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.87%. The firm had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. During the same period in the prior year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, insider Michael Troutman sold 897 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.70, for a total value of $27,537.90. Following the completion of the transaction, the insider now owns 43,026 shares in the company, valued at approximately $1,320,898.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Ice Mountain Llc sold 249,582 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the completion of the sale, the insider now owns 24,505,660 shares in the company, valued at approximately $785,161,346.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Troutman sold 897 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.70, for a total transaction of $27,537.90. Following the sale, the insider now owns 43,026 shares of the company’s stock, valued at approximately $1,320,898.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 741,506 shares of company stock valued at $23,964,936. Insiders own 3.80% 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.