Yousif Capital Management LLC Decreases Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Yousif Capital Management LLC trimmed its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,300 shares of the company’s stock after selling 1,047 shares during the quarter. Yousif Capital Management LLC’s holdings in Zurn Elkay Water Solutions were worth $1,758,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Atala Financial Inc purchased a new position in Zurn Elkay Water Solutions during the 4th quarter valued at $44,000. Tortoise Investment Management LLC increased its position in Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock valued at $65,000 after purchasing an additional 755 shares during the period. Caisse Des Depots ET Consignations bought a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at $82,000. Central Pacific Bank Trust Division boosted its holdings in shares of Zurn Elkay Water Solutions by 31.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company’s stock valued at $145,000 after buying an additional 1,040 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Zurn Elkay Water Solutions by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company’s stock valued at $205,000 after buying an additional 344 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

ZWS has been the topic of several research analyst reports. The Goldman Sachs Group lowered their target price on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Robert W. Baird reduced their target price on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions in a research note on Friday, May 16th. BNP Paribas cut shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research note on Wednesday, April 9th. Finally, Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.29.

Zurn Elkay Water Solutions Stock Up 0.9%

NYSE ZWS opened at $35.52 on Tuesday. 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 company has a market capitalization of $5.98 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.01 and a beta of 1.00. Zurn Elkay Water Solutions Co. has a one year low of $27.74 and a one year high of $41.15. The stock has a 50 day moving average price of $34.40 and a 200-day moving average price of $35.67.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. During the same period in the prior year, the company earned $0.29 EPS. As a group, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were given a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.01%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 36.36%.

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.