Envestnet Asset Management Inc. Has $26.45 Million Stock Position in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Envestnet Asset Management Inc. lessened its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 801,840 shares of the company’s stock after selling 28,250 shares during the period. Envestnet Asset Management Inc. owned 0.48% of Zurn Elkay Water Solutions Cor worth $26,445,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. HM Payson & Co. acquired a new position in shares of Zurn Elkay Water Solutions Cor during the first quarter worth $37,000. Caisse Des Depots ET Consignations bought a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth $82,000. Central Pacific Bank Trust Division raised its stake in Zurn Elkay Water Solutions Cor by 31.0% during the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company’s stock worth $145,000 after buying an additional 1,040 shares during the last quarter. Shelton Capital Management bought a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth $209,000. Finally, Capstone Investment Advisors LLC bought a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth $221,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, CFO David J. Pauli sold 2,706 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total value of $100,419.66. Following the transaction, the chief financial officer directly owned 60,772 shares in the company, valued at $2,255,248.92. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sudhanshu Chhabra sold 25,921 shares of the company’s 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. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Trading Down 1.2%

NYSE:ZWS opened at $37.35 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.72. The firm has a 50-day moving average of $36.42 and a 200-day moving average of $35.34. The company has a market cap of $6.28 billion, a PE ratio of 37.72, a PEG ratio of 2.35 and a beta of 0.99. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $41.15.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. The company had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. During the same period in the previous year, the firm posted $0.29 earnings per share. As a group, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

About Zurn Elkay Water Solutions Cor

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.