Jane Street Group LLC Trims Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Jane Street Group LLC cut its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 61.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,487 shares of the company’s stock after selling 146,065 shares during the period. Jane Street Group LLC’s holdings in Zurn Elkay Water Solutions were worth $3,288,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its position 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 purchasing an additional 2,119,777 shares during the last quarter. Millburn Ridgefield Corp boosted its stake in shares of Zurn Elkay Water Solutions by 1,152.5% during the third quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock worth $186,000 after buying an additional 4,760 shares during the period. HighTower Advisors LLC increased its position in Zurn Elkay Water Solutions by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock valued at $293,000 after acquiring an additional 259 shares during the period. Benjamin Edwards Inc. raised its stake in Zurn Elkay Water Solutions by 687.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 12,856 shares of the company’s stock valued at $462,000 after acquiring an additional 11,224 shares during the last quarter. Finally, PDT Partners LLC acquired a new stake in Zurn Elkay Water Solutions during the 3rd quarter worth approximately $2,959,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $89,333,392.61. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now directly owns 345,017 shares of the company’s stock, valued at approximately $12,969,189.03. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,202 shares of company stock worth $5,813,358 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ZWS. Robert W. Baird boosted their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho upped their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Oppenheimer lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Zurn Elkay Water Solutions Stock Up 0.9 %

Shares of NYSE ZWS opened at $37.48 on Friday. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 47.44, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 52 week low of $27.55 and a 52 week high of $41.15. The firm has a 50-day moving average price of $38.56 and a 200 day moving average price of $34.14. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. Equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is presently 45.57%.

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.