Zurn Elkay Water Solutions Cor (NYSE:ZWS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 40.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,053,263 shares of the company’s stock after selling 714,206 shares during the quarter. Bank of New York Mellon Corp owned about 0.62% of Zurn Elkay Water Solutions Cor worth $34,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZWS. Summit Investment Advisors Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company’s stock valued at $562,000 after purchasing an additional 477 shares during the period. Heritage Family Offices LLP increased its position in shares of Zurn Elkay Water Solutions Cor by 4.7% during the first quarter. Heritage Family Offices LLP now owns 11,575 shares of the company’s stock worth $382,000 after purchasing an additional 517 shares in the last quarter. HighTower Advisors LLC increased its position in Zurn Elkay Water Solutions Cor by 9.2% in the 4th quarter. HighTower Advisors LLC now owns 8,834 shares of the company’s stock valued at $329,000 after acquiring an additional 742 shares during the period. Corient Private Wealth LLC increased its position in Zurn Elkay Water Solutions Cor by 6.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,903 shares of the company’s stock valued at $519,000 after acquiring an additional 876 shares during the period. Finally, Captrust Financial Advisors increased its position in Zurn Elkay Water Solutions Cor by 11.8% in the 4th quarter. Captrust Financial Advisors now owns 8,755 shares of the company’s stock valued at $327,000 after acquiring an additional 923 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

ZWS has been the subject of several research reports. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Robert W. Baird decreased their price objective 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 report on Thursday, April 24th. Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions Cor from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their price target on shares of Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, BNP Paribas cut shares of Zurn Elkay Water Solutions Cor from an “outperform” rating to a “neutral” rating and set a $29.00 price objective for the company. in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.29.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS opened at $36.48 on Wednesday. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $41.15. The firm has a fifty day simple moving average of $36.47 and a 200 day simple moving average of $35.35. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.32 and a beta of 0.99. The company has a current ratio of 2.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued 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. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. The company had revenue of $388.80 million for the quarter, compared to analyst estimates of $383.87 million. During the same period in the prior year, the firm earned $0.29 earnings per share. Research analysts forecast 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 paid a dividend of $0.09 per share. 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 0.99%. Zurn Elkay Water Solutions Cor’s payout ratio is 36.36%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the firm’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 value of $964,001.99. Following the sale, the vice president directly owned 94,132 shares in the company, valued at approximately $3,500,769.08. This trade represents a 21.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the completion of the sale, the chief financial officer owned 60,772 shares in the company, valued at approximately $2,255,248.92. The trade was a 4.26% 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 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.