Rhumbline Advisers Sells 44,001 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Rhumbline Advisers lessened its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 10.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 394,793 shares of the company’s stock after selling 44,001 shares during the quarter. Rhumbline Advisers owned about 0.23% of Zurn Elkay Water Solutions worth $14,726,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after buying an additional 544 shares in the last quarter. Tsfg LLC purchased a new position in Zurn Elkay Water Solutions during the 4th quarter valued at about $56,000. KBC Group NV grew its holdings 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 buying an additional 688 shares in the last quarter. Millburn Ridgefield Corp grew its holdings in shares of Zurn Elkay Water Solutions by 1,152.5% during the third quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock worth $186,000 after purchasing an additional 4,760 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Zurn Elkay Water Solutions during the third quarter worth about $234,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

NYSE:ZWS opened at $34.90 on Friday. The business has a 50 day moving average of $37.57 and a 200 day moving average of $36.38. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 2.01 and a beta of 1.15. Zurn Elkay Water Solutions Co. has a 1-year low of $28.25 and a 1-year high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, beating 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%. On average, sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Thursday, February 20th will be given a $0.09 dividend. The ex-dividend date is Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.03%. Zurn Elkay Water Solutions’s payout ratio is currently 39.13%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of the transaction, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. This represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the company’s stock in a transaction that occurred on 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 approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.