PNC Financial Services Group Inc. Sells 309 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

PNC Financial Services Group Inc. decreased its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 3.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,797 shares of the company’s stock after selling 309 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Zurn Elkay Water Solutions were worth $291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after acquiring an additional 544 shares during the period. Tsfg LLC bought a new position in shares of Zurn Elkay Water Solutions during the 4th quarter worth $56,000. KBC Group NV grew its stake in shares of Zurn Elkay Water Solutions by 20.9% during the 3rd quarter. KBC Group NV now owns 3,978 shares of the company’s stock worth $143,000 after acquiring an additional 688 shares during the period. Millburn Ridgefield Corp grew its stake in shares of 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 worth $186,000 after acquiring an additional 4,760 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Zurn Elkay Water Solutions by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company’s stock worth $205,000 after acquiring an additional 344 shares during the period. Institutional investors own 83.33% of the company’s stock.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares in the company, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the sale, the insider now owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their price target on 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average target price of $38.40.

Zurn Elkay Water Solutions Price Performance

ZWS stock opened at $33.42 on Friday. The firm has a 50 day moving average of $36.26 and a 200-day moving average of $36.74. The firm has a market capitalization of $5.64 billion, a P/E ratio of 36.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions Co. has a 12 month low of $28.25 and a 12 month high of $41.15. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate 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, 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 firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were paid a $0.09 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.08%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 39.13%.

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.