Allspring Global Investments Holdings LLC Sells 30,834 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,028 shares of the company’s stock after selling 30,834 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of Zurn Elkay Water Solutions worth $6,053,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ZWS. GAMMA Investing LLC increased its stake in Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after buying an additional 544 shares during the period. Tsfg LLC purchased a new position in Zurn Elkay Water Solutions during the 4th quarter valued at about $56,000. KBC Group NV increased its position in Zurn Elkay Water Solutions by 20.9% during the 3rd quarter. KBC Group NV now owns 3,978 shares of the company’s stock valued at $143,000 after purchasing an additional 688 shares during the period. Millburn Ridgefield Corp increased its position in Zurn Elkay Water Solutions by 1,152.5% during the 3rd quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock valued at $186,000 after purchasing an additional 4,760 shares during the period. Finally, Virtu Financial LLC purchased a new position in Zurn Elkay Water Solutions during the 3rd quarter valued at about $234,000. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS opened at $35.71 on Thursday. The firm has a market cap of $6.07 billion, a PE ratio of 38.82, a PEG ratio of 2.01 and a beta of 1.15. The firm has a fifty day moving average of $37.76 and a 200 day moving average of $36.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. Zurn Elkay Water Solutions Co. has a one year low of $28.25 and a one year high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. As a group, research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, February 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s payout ratio is 39.13%.

Insider Activity

In other Zurn Elkay Water Solutions news, 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 value of $299,460,000.00. Following the transaction, the insider now owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now directly owns 59,410 shares in the company, valued at $2,107,272.70. This represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ZWS. Mizuho raised their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their target price on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Finally, Robert W. Baird lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

About Zurn Elkay Water Solutions

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.