IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 67.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,439 shares of the company’s stock after selling 47,238 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Zurn Elkay Water Solutions were worth $837,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Zurn Elkay Water Solutions by 4.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,147 shares of the company’s stock worth $652,000 after purchasing an additional 778 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Zurn Elkay Water Solutions by 3.6% in the third 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 period. Citigroup Inc. grew its stake in shares of Zurn Elkay Water Solutions by 159.2% in the third quarter. Citigroup Inc. now owns 253,943 shares of the company’s stock valued at $9,127,000 after buying an additional 155,982 shares in the last quarter. FMR LLC raised its holdings in shares of Zurn Elkay Water Solutions by 11.2% during the 3rd quarter. FMR LLC now owns 14,070 shares of the company’s stock valued at $506,000 after buying an additional 1,416 shares during the period. Finally, Public Sector Pension Investment Board acquired a new position in Zurn Elkay Water Solutions during the 3rd quarter worth approximately $10,947,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the transaction, the chief financial officer now owns 59,410 shares of the company’s stock, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the sale, the insider now directly owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 0.5 %

Shares of ZWS opened at $33.80 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. Zurn Elkay Water Solutions Co. has a one year low of $28.25 and a one year high of $41.15. The stock has a 50-day moving average price of $36.00 and a 200 day moving average price of $36.84. The company has a market capitalization of $5.71 billion, a P/E ratio of 36.74, a P/E/G ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.06%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.40.

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.