Zurn Elkay Water Solutions Co. (NYSE:ZWS) Holdings Cut by Everence Capital Management Inc.

Everence Capital Management Inc. decreased its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 16.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,100 shares of the company’s stock after selling 1,430 shares during the quarter. Everence Capital Management Inc.’s holdings in Zurn Elkay Water Solutions were worth $265,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after acquiring an additional 536 shares in the last quarter. GAMMA Investing LLC grew its position in Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after buying an additional 544 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions during the third quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new position in shares of Zurn Elkay Water Solutions in the 2nd quarter valued at $88,000. Finally, KBC Group NV lifted its stake in Zurn Elkay Water Solutions by 20.9% during the third quarter. KBC Group NV now owns 3,978 shares of the company’s stock worth $143,000 after purchasing an additional 688 shares during the period. 83.33% of the stock is owned by institutional investors.

Insider Transactions at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the transaction, the chief financial officer now directly owns 47,572 shares in the company, valued at $1,862,443.80. The trade was a 7.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the completion of the sale, the vice president now owns 35,422 shares of the company’s stock, valued at $1,386,771.30. This trade represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,202 shares of company stock worth $5,813,358 in the last three months. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ZWS. Oppenheimer lifted their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Mizuho increased their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Robert W. Baird boosted their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Zurn Elkay Water Solutions Stock Down 1.7 %

Shares of ZWS stock opened at $36.27 on Wednesday. The firm has a fifty day moving average of $38.74 and a 200-day moving average of $34.76. Zurn Elkay Water Solutions Co. has a 12-month low of $27.55 and a 12-month high of $41.15. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 45.91, a P/E/G ratio of 2.02 and a beta of 1.15. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. As a group, equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.99%. Zurn Elkay Water Solutions’s payout ratio is 45.57%.

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.