Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by US Bancorp DE

US Bancorp DE decreased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,584 shares of the company’s stock after selling 588 shares during the period. US Bancorp DE’s holdings in Zurn Elkay Water Solutions were worth $273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ZWS. Quarry LP lifted its holdings in Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after buying an additional 536 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after buying an additional 373 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Zurn Elkay Water Solutions in the 2nd quarter worth $29,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions in the 3rd quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after buying an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE:ZWS opened at $39.41 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.55 and a fifty-two week high of $40.64. The firm has a 50-day simple moving average of $35.64 and a 200 day simple moving average of $32.67. The company has a market cap of $6.69 billion, a PE ratio of 50.25, a P/E/G ratio of 1.99 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 for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The business had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate 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 paid a $0.09 dividend. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 40.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their target price 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. Mizuho boosted their target price on shares of 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. Robert W. Baird boosted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions currently has an average rating of “Hold” and an average target price of $38.17.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 4,070 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the sale, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO David J. Pauli sold 4,070 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the sale, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 225,688 shares of company stock valued at $8,400,151. Company insiders own 3.80% of the company’s stock.

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.