Quantbot Technologies LP Sells 17,934 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Quantbot Technologies LP reduced its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 49.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,974 shares of the company’s stock after selling 17,934 shares during the period. Quantbot Technologies LP’s holdings in Zurn Elkay Water Solutions were worth $646,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ZWS. Sei Investments Co. lifted its stake in shares of Zurn Elkay Water Solutions by 11.1% in the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock valued at $6,209,000 after buying an additional 21,081 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in Zurn Elkay Water Solutions by 23.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock valued at $3,323,000 after acquiring an additional 17,350 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Zurn Elkay Water Solutions by 209.9% during the 2nd quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock valued at $2,411,000 after purchasing an additional 55,970 shares during the last quarter. Impax Asset Management Group plc increased its holdings in 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 purchasing an additional 346,412 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Zurn Elkay Water Solutions in the second quarter worth approximately $431,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $40.29 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 50.99, a P/E/G ratio of 2.02 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 52 week low of $27.55 and a 52 week high of $40.64. The firm’s 50-day simple moving average is $37.41 and its two-hundred day simple moving average is $33.34.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating 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 business had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be paid a $0.09 dividend. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is currently 45.57%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ZWS shares. Mizuho upped their price target on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird raised their price target on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Oppenheimer increased their price objective on shares of 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.17.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, VP Jeffrey J. Lavalle sold 3,132 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $122,617.80. Following the sale, the vice president now owns 35,422 shares in the company, valued at $1,386,771.30. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the transaction, the vice president now owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. This trade represents a 39.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock worth $8,400,151 over the last quarter. 3.80% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Company 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.