Skandinaviska Enskilda Banken AB publ Lowers Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 6.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,589 shares of the company’s stock after selling 1,718 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Zurn Elkay Water Solutions were worth $694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZWS. Norges Bank bought a new position in shares of Zurn Elkay Water Solutions during the fourth quarter valued at about $39,532,000. Jennison Associates LLC grew its stake in shares of Zurn Elkay Water Solutions by 68.6% during the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock valued at $42,684,000 after buying an additional 518,733 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Zurn Elkay Water Solutions by 3,236.0% during the fourth quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock valued at $14,889,000 after buying an additional 491,093 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Zurn Elkay Water Solutions by 37.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after buying an additional 465,701 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Zurn Elkay Water Solutions by 24.1% during the second quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock valued at $51,485,000 after buying an additional 339,892 shares during the last quarter. 83.33% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the transaction, the director now directly owns 374,982 shares in the company, valued at $13,124,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Aimee Katz sold 8,240 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $29.14, for a total value of $240,113.60. Following the completion of the transaction, the insider now directly owns 23,565,924 shares in the company, valued at approximately $686,711,025.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 10,035 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the transaction, the director now owns 374,982 shares of the company’s stock, valued at $13,124,370. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,812 shares of company stock worth $5,865,786. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ZWS. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $37.00 target price on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.17.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS opened at $34.17 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. Zurn Elkay Water Solutions Co. has a one year low of $25.09 and a one year high of $35.18. The company has a 50-day simple moving average of $31.72 and a two-hundred day simple moving average of $31.49. The firm has a market capitalization of $5.90 billion, a PE ratio of 48.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The business had revenue of $412.00 million during the quarter, compared to analyst estimates of $409.14 million. During the same period last year, the business posted $0.24 earnings per share. Zurn Elkay Water Solutions’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.94%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

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.