DnB Asset Management AS Cuts Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

DnB Asset Management AS cut its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 59.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,767 shares of the company’s stock after selling 15,507 shares during the period. DnB Asset Management AS’s holdings in Zurn Elkay Water Solutions were worth $402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZWS. GAMMA Investing LLC raised its holdings in shares of Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after purchasing an additional 544 shares in the last quarter. Atala Financial Inc acquired a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at $44,000. Tsfg LLC acquired a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at $56,000. Tortoise Investment Management LLC lifted its holdings in Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after buying an additional 755 shares during the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new position in shares of Zurn Elkay Water Solutions during the 4th quarter worth about $82,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ZWS. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, January 24th. The Goldman Sachs Group lowered their target price on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.67.

Insider Activity at Zurn Elkay Water Solutions

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

Zurn Elkay Water Solutions Trading Up 0.9 %

ZWS opened at $33.47 on Thursday. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions Co. has a 52 week low of $28.25 and a 52 week high of $41.15. The business’s 50 day moving average is $35.57 and its two-hundred day moving average is $36.89. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating 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 14.03%. On average, research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 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.