Keybank National Association OH Trims Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Keybank National Association OH lowered its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,969 shares of the company’s stock after selling 1,432 shares during the quarter. Keybank National Association OH’s holdings in Zurn Elkay Water Solutions were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its position in Zurn Elkay Water Solutions by 85.7% during the 3rd 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 purchasing an additional 868,748 shares during the period. Global Alpha Capital Management Ltd. grew its stake in shares of Zurn Elkay Water Solutions by 23.1% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock worth $3,323,000 after purchasing an additional 17,350 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Zurn Elkay Water Solutions by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock worth $58,077,000 after purchasing an additional 329,563 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after purchasing an additional 35,570 shares during the period. Hedge funds and other 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 firm’s stock in a transaction dated 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 directly owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David J. Pauli sold 8,390 shares of the firm’s 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 ownership of the stock. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped their price target 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.67.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS opened at $33.16 on Wednesday. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions Co. has a 52 week low of $28.25 and a 52 week high of $41.15. The company’s 50-day moving average price is $36.82 and its 200 day moving average price is $36.74. 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 issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating 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 forecast 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 disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. Zurn Elkay Water Solutions’s payout ratio is 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.