Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC decreased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,823 shares of the company’s stock after selling 688 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Choreo LLC purchased a new position in Zurn Elkay Water Solutions in the second quarter valued at $348,000. Headlands Technologies LLC acquired a new position in Zurn Elkay Water Solutions in the 2nd quarter valued at about $88,000. American Century Companies Inc. increased its position in Zurn Elkay Water Solutions by 10.9% during the 2nd quarter. American Century Companies Inc. now owns 36,778 shares of the company’s stock worth $1,081,000 after purchasing an additional 3,615 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Zurn Elkay Water Solutions by 8.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 845,155 shares of the company’s stock worth $24,848,000 after acquiring an additional 66,754 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Zurn Elkay Water Solutions by 19.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 17,369 shares of the company’s stock worth $511,000 after acquiring an additional 2,778 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZWS. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Mizuho raised their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three 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 an average rating of “Moderate Buy” and a consensus price target of $38.50.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded up $0.24 during midday trading on Monday, reaching $36.44. The stock had a trading volume of 212,012 shares, compared to its average volume of 715,647. Zurn Elkay Water Solutions Co. has a one year low of $27.90 and a one year high of $41.15. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $38.76 and a 200-day simple moving average of $34.91. The firm has a market cap of $6.18 billion, a PE ratio of 46.13, a P/E/G ratio of 2.02 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the previous year, the company earned $0.29 EPS. Zurn Elkay Water Solutions’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s payout ratio is presently 45.57%.

Insiders Place Their Bets

In other news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the sale, the chief executive officer now owns 2,242,867 shares in the company, valued at $89,333,392.61. This represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the transaction, the vice president now owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. The trade was a 8.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,202 shares of company stock worth $5,813,358. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions 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.