Atria Investments Inc Decreases Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Atria Investments Inc reduced its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.6% in the 3rd quarter, Holdings Channel reports. The firm owned 81,870 shares of the company’s stock after selling 467 shares during the quarter. Atria Investments Inc’s holdings in Zurn Elkay Water Solutions were worth $2,942,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Zurn Elkay Water Solutions by 2.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock valued at $386,286,000 after buying an additional 265,857 shares in the last quarter. Impax Asset Management Group plc grew its position in Zurn Elkay Water Solutions by 4.1% in the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after acquiring an additional 346,412 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after purchasing an additional 868,748 shares during the period. Dimensional Fund Advisors LP lifted its position 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 worth $49,846,000 after purchasing an additional 465,701 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Zurn Elkay Water Solutions by 4.5% in the third quarter. Raymond James & Associates now owns 1,433,580 shares of the company’s stock valued at $51,523,000 after purchasing an additional 61,748 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Performance

ZWS stock opened at $39.41 on Thursday. The stock’s 50 day simple moving average is $35.64 and its 200 day simple moving average is $32.67. Zurn Elkay Water Solutions Co. has a 12-month low of $27.55 and a 12-month high of $40.64. The firm has a market cap of $6.69 billion, a P/E ratio of 49.89, a P/E/G ratio of 1.99 and a beta of 1.14. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

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

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 40.51%.

Analysts Set New Price Targets

A number of research firms have weighed in on ZWS. Robert W. Baird upped their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Mizuho lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their price target on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer upped their price target on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.17.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 80,151 shares in the company, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 4,070 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 $159,340.50. Following the transaction, the chief financial officer now owns 47,572 shares of the company’s stock, valued at approximately $1,862,443.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 80,151 shares in the company, valued at $2,608,915.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock worth $8,400,151 in the last 90 days. 3.80% of the stock is currently owned by company insiders.

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.