Skandinaviska Enskilda Banken AB publ Trims Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Skandinaviska Enskilda Banken AB publ lessened its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,789 shares of the company’s stock after selling 829 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Zurn Elkay Water Solutions were worth $816,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZWS. HighTower Advisors LLC lifted its stake in shares of Zurn Elkay Water Solutions by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock valued at $293,000 after purchasing an additional 259 shares during the period. DAVENPORT & Co LLC increased its holdings in Zurn Elkay Water Solutions by 3.2% in the fourth quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company’s stock valued at $319,000 after buying an additional 269 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Zurn Elkay Water Solutions by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company’s stock worth $205,000 after acquiring an additional 344 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Zurn Elkay Water Solutions by 0.7% during the 4th quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company’s stock worth $2,288,000 after acquiring an additional 389 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Zurn Elkay Water Solutions by 4.8% during the 4th quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company’s stock valued at $352,000 after acquiring an additional 430 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 8,390 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following 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 trade represents a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the sale, the insider now directly owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Hold” and a consensus target price of $38.40.

Zurn Elkay Water Solutions Stock Up 0.9 %

Shares of NYSE ZWS opened at $33.47 on Tuesday. Zurn Elkay Water Solutions Co. has a 52-week low of $28.25 and a 52-week high of $41.15. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The company’s 50-day simple moving average is $36.49 and its 200-day simple moving average is $36.77. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16.

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

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend 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 is currently 39.13%.

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.