XTX Topco Ltd Decreases Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

XTX Topco Ltd lowered its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 35.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,510 shares of the company’s stock after selling 3,585 shares during the period. XTX Topco Ltd’s holdings in Zurn Elkay Water Solutions were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in shares of Zurn Elkay Water Solutions by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock valued at $293,000 after purchasing an additional 259 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in Zurn Elkay Water Solutions by 1.3% during the third quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock valued at $750,000 after buying an additional 269 shares during the last quarter. Tortoise Investment Management LLC raised its position in Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after acquiring an additional 373 shares during the period. Quarry LP boosted its stake in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after acquiring an additional 536 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Zurn Elkay Water Solutions by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock valued at $1,203,000 after acquiring an additional 561 shares during the period. Institutional investors own 83.33% of the company’s stock.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now owns 2,242,867 shares in the company, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David J. Pauli sold 4,070 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the completion of the sale, the chief financial officer now directly owns 47,572 shares in the company, valued at approximately $1,862,443.80. The trade was a 7.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,202 shares of company stock valued at $5,813,358. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Oppenheimer raised their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Mizuho raised their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird boosted their price objective 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. Finally, Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $37.15 on Friday. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 47.03, a PEG ratio of 2.02 and a beta of 1.14. 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 stock’s 50-day simple moving average is $38.55 and its 200-day simple moving average is $34.09. Zurn Elkay Water Solutions Co. has a 52 week low of $27.55 and a 52 week high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same period in the previous year, the firm earned $0.29 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were given a dividend of $0.09 per share. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.57%.

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.