Epoch Investment Partners Inc. Reduces Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Epoch Investment Partners Inc. trimmed its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 81.8% in the 2nd quarter, Holdings Channel reports. The firm owned 41,770 shares of the company’s stock after selling 187,504 shares during the period. Epoch Investment Partners Inc.’s holdings in Zurn Elkay Water Solutions were worth $1,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $5,213,000. Los Angeles Capital Management LLC bought a new position in Zurn Elkay Water Solutions in the first quarter valued at about $1,004,000. UBS Group AG boosted its position in Zurn Elkay Water Solutions by 37.5% in the fourth quarter. UBS Group AG now owns 217,525 shares of the company’s stock worth $6,397,000 after purchasing an additional 59,278 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Zurn Elkay Water Solutions by 3,236.0% during the 4th quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock valued at $14,889,000 after purchasing an additional 491,093 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Zurn Elkay Water Solutions in the 1st quarter worth approximately $1,068,000. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE ZWS opened at $34.17 on Tuesday. The stock has a market cap of $5.90 billion, a PE ratio of 48.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 1 year low of $25.09 and a 1 year high of $35.18. The firm has a fifty day moving average price of $31.72 and a 200-day moving average price of $31.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The business had revenue of $412.00 million during the quarter, compared to analyst estimates of $409.14 million. During the same quarter in the prior year, the business posted $0.24 EPS. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were issued a $0.08 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.94%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Insiders Place Their Bets

In related news, Director Timothy J. Jahnke sold 10,035 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the transaction, the director now directly owns 374,982 shares of the company’s stock, valued at $13,124,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Timothy J. Jahnke sold 4,086 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total value of $134,878.86. Following the completion of the transaction, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the transaction, the director now directly owns 374,982 shares of the company’s stock, valued at $13,124,370. The disclosure for this sale can be found here. Insiders sold 190,812 shares of company stock worth $5,865,786 in the last three months. 3.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZWS. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Oppenheimer restated an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.17.

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.