Corebridge Financial Inc. Decreases Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Corebridge Financial Inc. lessened its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,644 shares of the company’s stock after selling 6,023 shares during the quarter. Corebridge Financial Inc.’s holdings in Zurn Elkay Water Solutions were worth $2,859,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after purchasing an additional 544 shares during the period. Atala Financial Inc purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $44,000. Tsfg LLC bought a new position in shares of Zurn Elkay Water Solutions during the 4th quarter valued at $56,000. Tortoise Investment Management LLC boosted its stake in shares of Zurn Elkay Water Solutions by 77.4% in the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after buying an additional 755 shares during the last quarter. Finally, Millburn Ridgefield Corp grew its holdings 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. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Trading Up 0.1 %

Shares of Zurn Elkay Water Solutions stock opened at $33.00 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The stock has a market capitalization of $5.57 billion, a PE ratio of 35.87, a P/E/G ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions Co. has a 1-year low of $28.25 and a 1-year high of $41.15. The company’s fifty day simple moving average is $35.79 and its 200-day simple moving average is $36.91.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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%. As a group, equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is 39.13%.

Insiders Place Their Bets

In other news, CFO David J. Pauli sold 8,390 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now directly owns 59,410 shares in the company, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the transaction, the insider now directly owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.