MetLife Investment Management LLC Has $2.94 Million Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

MetLife Investment Management LLC reduced its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,685 shares of the company’s stock after selling 2,259 shares during the quarter. MetLife Investment Management LLC’s holdings in Zurn Elkay Water Solutions were worth $2,936,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ZWS. Price T Rowe Associates Inc. MD boosted its holdings in shares of Zurn Elkay Water Solutions by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 84,095 shares of the company’s stock worth $2,815,000 after purchasing an additional 5,536 shares during the period. Tidal Investments LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 24.1% during the first quarter. Tidal Investments LLC now owns 10,889 shares of the company’s stock worth $364,000 after purchasing an additional 2,117 shares during the period. Cetera Advisors LLC acquired a new position in Zurn Elkay Water Solutions in the 1st quarter worth about $209,000. OLD National Bancorp IN raised its stake in shares of Zurn Elkay Water Solutions by 89.7% during the 2nd quarter. OLD National Bancorp IN now owns 12,912 shares of the company’s stock worth $380,000 after purchasing an additional 6,106 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 228.1% during the 2nd quarter. SG Americas Securities LLC now owns 18,675 shares of the company’s stock valued at $549,000 after buying an additional 12,983 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Stock Up 0.1 %

Zurn Elkay Water Solutions stock opened at $40.32 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.55 and a fifty-two week high of $40.74. The firm has a fifty day moving average price of $37.64 and a two-hundred day moving average price of $33.45. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 51.04, a P/E/G ratio of 2.04 and a beta of 1.14.

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

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.09 per share. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.57%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at $2,608,915.05. This trade represents a 39.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the sale, the chief financial officer now directly owns 47,572 shares in the company, valued at $1,862,443.80. This trade represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,688 shares of company stock valued at $8,400,151 in the last ninety days. Company insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Robert W. Baird raised their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Oppenheimer lifted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Mizuho boosted their price target on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.17.

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.