Everence Capital Management Inc. reduced its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS – Free Report) by 16.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,100 shares of the company’s stock after selling 1,430 shares during the period. Everence Capital Management Inc.’s holdings in Zurn Elkay Water Solutions were worth $265,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 3.3% in the third quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock valued at $293,000 after acquiring an additional 259 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Zurn Elkay Water Solutions by 1.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock valued at $750,000 after acquiring an additional 269 shares in the last quarter. MML Investors Services LLC raised its position in shares of Zurn Elkay Water Solutions by 2.5% during the 3rd quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock worth $650,000 after purchasing an additional 449 shares during the last quarter. Quarry LP lifted its position in shares of Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after acquiring an additional 536 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after purchasing an additional 544 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.
Zurn Elkay Water Solutions Stock Performance
Shares of ZWS opened at $36.27 on Wednesday. The business’s fifty day moving average price is $38.74 and its 200 day moving average price is $34.76. 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 12-month low of $27.55 and a 12-month high of $41.15. The stock has a market capitalization of $6.16 billion, a PE ratio of 45.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.15.
Zurn Elkay Water Solutions Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.36 annualized dividend and a yield of 0.99%. 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%.
Insider Buying and Selling
In other news, CFO David J. Pauli sold 4,070 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was 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 of the company’s stock, valued at $1,862,443.80. This represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,202 shares of company stock valued at $5,813,358 over the last 90 days. 3.80% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
ZWS has been the topic of several analyst reports. Oppenheimer raised their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a 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 company a “neutral” rating in a research note on Thursday, October 31st. 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. Finally, Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of “Moderate Buy” and an average target price of $38.50.
Check Out Our Latest Analysis on Zurn Elkay Water Solutions
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.
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