Natixis Advisors LLC Decreases Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Natixis Advisors LLC decreased its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 33.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,250 shares of the company’s stock after selling 6,517 shares during the period. Natixis Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Sei Investments Co. boosted its holdings in Zurn Elkay Water Solutions by 11.1% in the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock valued at $6,209,000 after purchasing an additional 21,081 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Zurn Elkay Water Solutions by 209.9% in the second quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock valued at $2,411,000 after purchasing an additional 55,970 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in Zurn Elkay Water Solutions by 4.1% in the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after purchasing an additional 346,412 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Zurn Elkay Water Solutions in the second quarter valued at about $431,000. Finally, AQR Capital Management LLC purchased a new position in Zurn Elkay Water Solutions in the second quarter valued at about $1,068,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ZWS shares. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer upped their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Robert W. Baird upped their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Mizuho upped their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.17.

Zurn Elkay Water Solutions Stock Down 0.1 %

Shares of Zurn Elkay Water Solutions stock opened at $39.68 on Friday. 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 current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 2.04 and a beta of 1.14. The business’s 50 day simple moving average is $37.31 and its 200-day simple moving average is $33.28.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio is 45.57%.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,242,867 shares in the company, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the completion of the transaction, the vice president now directly owns 35,422 shares in the company, valued at $1,386,771.30. This trade represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,688 shares of company stock worth $8,400,151 in the last quarter. Corporate 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.