Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP cut its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 31.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,295 shares of the company’s stock after selling 13,719 shares during the period. Two Sigma Investments LP’s holdings in Zurn Elkay Water Solutions were worth $1,093,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. DAVENPORT & Co LLC lifted its position in shares of Zurn Elkay Water Solutions by 3.2% in the 4th quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company’s stock valued at $319,000 after acquiring an additional 269 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Zurn Elkay Water Solutions by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company’s stock valued at $205,000 after acquiring an additional 344 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Zurn Elkay Water Solutions by 0.7% in the 4th quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company’s stock valued at $2,288,000 after acquiring an additional 389 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 4.8% in the 4th quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company’s stock valued at $352,000 after acquiring an additional 430 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Zurn Elkay Water Solutions by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company’s stock valued at $562,000 after acquiring an additional 477 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zurn Elkay Water Solutions

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.19, for a total transaction of $964,001.99. Following the transaction, the vice president now owns 94,132 shares in the company, valued at $3,500,769.08. This represents a 21.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total transaction of $100,419.66. Following the transaction, the chief financial officer now owns 60,772 shares in the company, valued at approximately $2,255,248.92. This trade represents a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Robert W. Baird reduced their price target on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus upped their price target on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions in a research report on Friday, May 16th. The Goldman Sachs Group reduced their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Finally, BNP Paribas downgraded shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 price target for the company. in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.29.

Zurn Elkay Water Solutions Stock Up 0.2%

Zurn Elkay Water Solutions stock opened at $36.25 on Friday. The firm has a market cap of $6.10 billion, a PE ratio of 39.40, a P/E/G ratio of 2.01 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The firm’s 50 day moving average price is $33.61 and its two-hundred day moving average price is $35.89. Zurn Elkay Water Solutions Co. has a twelve month low of $27.74 and a twelve month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $388.80 million for the quarter, compared to analyst estimates of $383.87 million. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. During the same quarter in the prior year, the business earned $0.29 EPS. On average, research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 36.36%.

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.