Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock Position Lowered by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 9.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,515,503 shares of the company’s stock after selling 472,915 shares during the period. Wellington Management Group LLP’s holdings in Zurn Elkay Water Solutions were worth $168,428,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in Zurn Elkay Water Solutions by 11.2% during the third quarter. FMR LLC now owns 14,070 shares of the company’s stock valued at $506,000 after buying an additional 1,416 shares during the period. Captrust Financial Advisors grew its stake in Zurn Elkay Water Solutions by 7.8% during the 3rd quarter. Captrust Financial Advisors now owns 7,832 shares of the company’s stock valued at $281,000 after acquiring an additional 570 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 67.3% in the 3rd quarter. Verition Fund Management LLC now owns 75,430 shares of the company’s stock valued at $2,711,000 after purchasing an additional 30,337 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Zurn Elkay Water Solutions by 687.7% in the third quarter. Benjamin Edwards Inc. now owns 12,856 shares of the company’s stock worth $462,000 after purchasing an additional 11,224 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 3.3% during the third quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock worth $293,000 after purchasing an additional 259 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZWS. The Goldman Sachs Group cut their target price 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. Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.67.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $33.47 on Thursday. The business’s fifty day moving average is $35.57 and its two-hundred day moving average is $36.89. The firm has a market cap of $5.65 billion, a P/E ratio of 36.38, a P/E/G ratio of 2.01 and a beta of 1.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. Zurn Elkay Water Solutions Co. has a 52 week low of $28.25 and a 52 week high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. Equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 39.13%.

Insider Activity at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at approximately $2,107,272.70. This represents a 12.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the transaction, the insider now directly owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. This represents a 37.27 % 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 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.