Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division lowered its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 34.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,360 shares of the company’s stock after selling 1,760 shares during the period. Central Pacific Bank Trust Division’s holdings in Zurn Elkay Water Solutions were worth $125,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Zurn Elkay Water Solutions by 2.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock valued at $386,286,000 after purchasing an additional 265,857 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of 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 buying an additional 346,412 shares in the last quarter. State Street Corp lifted its position in Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after acquiring an additional 2,119,777 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Zurn Elkay Water Solutions by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after acquiring an additional 35,570 shares during the period. Finally, Principal Financial Group Inc. grew its position in Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after acquiring an additional 868,748 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the sale, the director now directly owns 345,017 shares in the company, valued at approximately $12,969,189.03. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,202 shares of company stock worth $5,813,358 over the last ninety days. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Zurn Elkay Water Solutions Trading Up 0.4 %

Shares of NYSE ZWS opened at $37.06 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $38.71 and its two-hundred day moving average price is $34.62. Zurn Elkay Water Solutions Co. has a 52-week low of $27.55 and a 52-week high of $41.15. The stock has a market capitalization of $6.29 billion, a P/E ratio of 46.91, a PEG ratio of 2.02 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same period last year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were paid a dividend of $0.09 per share. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.36 annualized dividend and a yield of 0.97%. Zurn Elkay Water Solutions’s dividend 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.