Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by US Bancorp DE

US Bancorp DE lowered its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,584 shares of the company’s stock after selling 588 shares during the period. US Bancorp DE’s holdings in Zurn Elkay Water Solutions were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 2.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock valued at $386,286,000 after acquiring an additional 265,857 shares during the period. Principal Financial Group Inc. lifted its position in shares of Zurn Elkay Water Solutions by 24.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock valued at $51,485,000 after acquiring an additional 339,892 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after acquiring an additional 465,701 shares during the period. Raymond James & Associates lifted its position in shares of Zurn Elkay Water Solutions by 4.5% during the 3rd quarter. Raymond James & Associates now owns 1,433,580 shares of the company’s stock valued at $51,523,000 after acquiring an additional 61,748 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position 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 valued at $24,848,000 after acquiring an additional 66,754 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Stock Up 0.2 %

ZWS stock opened at $39.41 on Thursday. The stock has a market capitalization of $6.69 billion, a P/E ratio of 50.25, a PEG ratio of 1.99 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $40.64. The company has a 50 day moving average price of $35.64 and a two-hundred day moving average price of $32.67.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. As a group, sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, November 20th. 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 dividend yield of 0.91%. Zurn Elkay Water Solutions’s payout ratio is currently 40.51%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ZWS. Robert W. Baird lifted their price target 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Finally, Mizuho raised their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.17.

Insider Activity

In other news, VP Jeffrey J. Lavalle sold 3,132 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 $122,617.80. Following the completion of the sale, the vice president now directly owns 35,422 shares of the company’s stock, valued at $1,386,771.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Jeffrey J. Lavalle sold 3,132 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 $122,617.80. Following the completion of the sale, the vice president now directly owns 35,422 shares of the company’s stock, valued at $1,386,771.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David J. Pauli sold 4,070 shares of Zurn Elkay Water Solutions 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 transaction, the chief financial officer now owns 47,572 shares in the company, valued at $1,862,443.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock valued at $8,400,151 in the last ninety days. Company 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.