LVW Advisors LLC Cuts Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

LVW Advisors LLC reduced its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,710 shares of the company’s stock after selling 635 shares during the quarter. LVW Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth about $34,000. Benjamin Edwards Inc. acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth about $42,000. Kapitalo Investimentos Ltda acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth about $76,000. Assetmark Inc. raised its position in Zurn Elkay Water Solutions by 32.9% during the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock worth $85,000 after acquiring an additional 718 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in Zurn Elkay Water Solutions by 85.4% during the fourth quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock worth $93,000 after acquiring an additional 1,517 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 249,582 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the completion of the sale, the insider now directly owns 24,505,660 shares in the company, valued at $785,161,346.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Zurn Elkay Water Solutions news, Director Thomas Christopoul sold 10,495 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $32.11, for a total transaction of $336,994.45. Following the completion of the sale, the director now directly owns 104,844 shares in the company, valued at $3,366,540.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ice Mountain Llc sold 249,582 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the sale, the insider now owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The disclosure for this sale can be found here. Insiders sold a total of 641,465 shares of company stock worth $20,532,684 over the last ninety days. 3.00% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $28.76 on Tuesday. Zurn Elkay Water Solutions Co. has a 1 year low of $25.09 and a 1 year high of $34.58. The firm has a 50 day moving average price of $31.32 and a 200 day moving average price of $31.01. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 1.53 and a beta of 1.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The firm had revenue of $374.00 million during the quarter, compared to the consensus estimate of $369.43 million. During the same period in the previous year, the firm earned $0.18 earnings per share. Zurn Elkay Water Solutions’s revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Monday, May 20th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, May 17th. This represents a $0.32 annualized dividend and a yield of 1.11%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ZWS shares. Oppenheimer lifted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.50.

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.