Allspring Global Investments Holdings LLC Sells 19,234 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Allspring Global Investments Holdings LLC lowered its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 11.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,794 shares of the company’s stock after selling 19,234 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.09% of Zurn Elkay Water Solutions Cor worth $4,801,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Zurn Elkay Water Solutions Cor by 0.7% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,563,362 shares of the company’s stock worth $505,913,000 after buying an additional 91,758 shares during the last quarter. Invesco Ltd. lifted its holdings in Zurn Elkay Water Solutions Cor by 26.8% in the fourth quarter. Invesco Ltd. now owns 5,880,302 shares of the company’s stock valued at $219,335,000 after acquiring an additional 1,242,642 shares during the period. Janus Henderson Group PLC boosted its position in Zurn Elkay Water Solutions Cor by 6.5% in the fourth quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company’s stock worth $149,444,000 after purchasing an additional 245,258 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Zurn Elkay Water Solutions Cor by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company’s stock valued at $132,661,000 after purchasing an additional 2,304,285 shares during the period. Finally, Beck Mack & Oliver LLC grew its stake in shares of Zurn Elkay Water Solutions Cor by 0.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 3,485,566 shares of the company’s stock valued at $130,012,000 after purchasing an additional 17,090 shares during the period. Institutional investors own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Zurn Elkay Water Solutions Cor Stock Up 0.1%

ZWS opened at $37.56 on Friday. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 37.94, a price-to-earnings-growth ratio of 2.33 and a beta of 0.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.87. The firm’s fifty day moving average is $36.04 and its 200 day moving average is $35.36. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $41.15.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $388.80 million for the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions Cor had a return on equity of 14.43% and a net margin of 10.72%. During the same period in the previous year, the business earned $0.29 earnings per share. On average, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were issued a $0.09 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 36.36%.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 25,921 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred 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 sale, the vice president owned 94,132 shares in the company, valued at $3,500,769.08. This trade represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David J. Pauli sold 2,706 shares of the company’s 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 owned 60,772 shares of the company’s stock, valued at approximately $2,255,248.92. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor 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.