Quantbot Technologies LP Cuts Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Quantbot Technologies LP lessened its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 79.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,619 shares of the company’s stock after selling 14,355 shares during the period. Quantbot Technologies LP’s holdings in Zurn Elkay Water Solutions were worth $135,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC increased its position in Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company’s stock worth $10,952,000 after buying an additional 140,624 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after acquiring an additional 868,748 shares during the period. JPMorgan Chase & Co. raised its stake in Zurn Elkay Water Solutions by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock valued at $58,077,000 after acquiring an additional 329,563 shares during the period. Geode Capital Management LLC lifted its holdings in Zurn Elkay Water Solutions by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock valued at $117,060,000 after purchasing an additional 35,570 shares during the last quarter. Finally, Perpetual Ltd boosted its position in Zurn Elkay Water Solutions by 8.4% during the fourth quarter. Perpetual Ltd now owns 214,189 shares of the company’s stock worth $7,989,000 after purchasing an additional 16,520 shares during the period. Institutional investors own 83.33% of the company’s stock.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the business’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 completion of the transaction, the insider now owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. The trade was a 37.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 2.4 %

Shares of Zurn Elkay Water Solutions stock opened at $32.96 on Monday. The company’s 50-day moving average price is $35.89 and its 200-day moving average price is $36.91. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 35.82, a PEG 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 posted its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s payout ratio is 39.13%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upped their price target on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.40.

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.