Procyon Advisors LLC Sells 607 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Procyon Advisors LLC reduced its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,093 shares of the company’s stock after selling 607 shares during the period. Procyon Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZWS. Vanguard Group Inc. raised its position in shares of Zurn Elkay Water Solutions by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock worth $404,041,000 after acquiring an additional 131,683 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 2.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after purchasing an additional 265,857 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Zurn Elkay Water Solutions by 24.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock worth $51,485,000 after purchasing an additional 339,892 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Zurn Elkay Water Solutions by 37.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after purchasing an additional 465,701 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Zurn Elkay Water Solutions by 3.8% in the 2nd quarter. Raymond James & Associates now owns 1,371,832 shares of the company’s stock valued at $40,332,000 after purchasing an additional 50,076 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZWS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer restated an “outperform” rating and set a $37.00 target price on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Finally, Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Zurn Elkay Water Solutions Price Performance

ZWS stock opened at $37.51 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. The company’s 50-day moving average is $33.35 and its 200-day moving average is $31.96. The stock has a market capitalization of $6.48 billion, a PE ratio of 52.83, a price-to-earnings-growth ratio of 1.93 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 1 year low of $25.09 and a 1 year high of $38.11.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $412.00 million for the quarter, compared to analyst estimates of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Equities research analysts expect 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 declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.85%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

Insiders Place Their Bets

In other news, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the transaction, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total value of $1,720,300.05. Following the transaction, the vice president now owns 80,151 shares in the company, valued at $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 15,600 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the transaction, the director now directly owns 385,017 shares in the company, valued at approximately $12,717,111.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,572 shares of company stock worth $2,721,672. Insiders own 3.80% of the company’s stock.

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.