SG Americas Securities LLC Sells 26,665 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

SG Americas Securities LLC cut its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 85.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,461 shares of the company’s stock after selling 26,665 shares during the period. SG Americas Securities LLC’s holdings in Zurn Elkay Water Solutions were worth $166,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Impax Asset Management Group plc raised its stake in shares of Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after acquiring an additional 346,412 shares in the last quarter. State Street Corp increased its position in shares of Zurn Elkay Water Solutions by 63.8% during the third quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after purchasing an additional 2,119,777 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $117,060,000 after purchasing an additional 35,570 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Zurn Elkay Water Solutions by 49.6% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Zurn Elkay Water Solutions by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,859,433 shares of the company’s stock worth $66,828,000 after buying an additional 65,426 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird increased their price target on 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. Mizuho increased their price objective on shares of 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. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus raised 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 report on Friday, January 24th. Three investment 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 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 $38.19 on Monday. Zurn Elkay Water Solutions Co. has a 52 week low of $28.25 and a 52 week high of $41.15. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.48 billion, a P/E ratio of 41.51, a P/E/G ratio of 1.78 and a beta of 1.15. The business’s 50 day moving average price is $38.46 and its 200 day moving average price is $36.06.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.01%. On average, sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.35 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be issued a $0.09 dividend. The ex-dividend date is Thursday, February 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 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.