Victory Capital Management Inc. Sells 69,021 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Victory Capital Management Inc. decreased its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 14.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 417,257 shares of the company’s stock after selling 69,021 shares during the period. Victory Capital Management Inc. owned 0.25% of Zurn Elkay Water Solutions worth $15,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZWS. State Street Corp raised its stake in Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after acquiring an additional 2,119,777 shares during the period. Principal Financial Group Inc. raised its stake in Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after acquiring an additional 868,748 shares during the period. Impax Asset Management Group plc raised its stake 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 acquiring an additional 346,412 shares during the period. JPMorgan Chase & Co. raised its position in shares of Zurn Elkay Water Solutions by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock valued at $58,077,000 after buying an additional 329,563 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in shares of Zurn Elkay Water Solutions during the third quarter valued at approximately $10,947,000. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 1.1 %

Zurn Elkay Water Solutions stock opened at $32.79 on Thursday. The stock has a market cap of $5.58 billion, a P/E ratio of 35.64, a PEG ratio of 2.01 and a beta of 1.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. Zurn Elkay Water Solutions Co. has a 1 year low of $28.25 and a 1 year high of $41.15. The firm’s 50 day moving average price is $36.73 and its 200-day moving average price is $36.72.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping 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, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 39.13%.

Wall Street Analyst Weigh In

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 report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.40.

Insider Buying and Selling

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the business’s stock in a transaction 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 owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction 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 directly 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 disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

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.