Envestnet Portfolio Solutions Inc. Lowers Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Envestnet Portfolio Solutions Inc. trimmed its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,472 shares of the company’s stock after selling 1,081 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Zurn Elkay Water Solutions were worth $801,000 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 the company. GAMMA Investing LLC increased its stake in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after purchasing an additional 544 shares in the last quarter. Atala Financial Inc purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter worth $44,000. Tsfg LLC bought a new stake in Zurn Elkay Water Solutions during the fourth quarter valued at about $56,000. Tortoise Investment Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 77.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock valued at $65,000 after acquiring an additional 755 shares in the last quarter. Finally, Millburn Ridgefield Corp boosted its stake in shares of Zurn Elkay Water Solutions by 1,152.5% in the third quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock worth $186,000 after acquiring an additional 4,760 shares during the period. Institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions has an average rating of “Hold” and an average target price of $38.40.

Zurn Elkay Water Solutions Trading Down 0.6 %

Shares of Zurn Elkay Water Solutions stock opened at $33.42 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions Co. has a twelve month low of $28.25 and a twelve month high of $41.15. The business has a 50-day moving average price of $36.26 and a 200-day moving average price of $36.82.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. Equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.08%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 39.13%.

Insiders Place Their Bets

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the sale, the insider now directly owns 15,002,819 shares in the company, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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. Corporate insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions 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.