Ameritas Investment Partners Inc. Sells 425 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Ameritas Investment Partners Inc. cut its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,904 shares of the company’s stock after selling 425 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Zurn Elkay Water Solutions were worth $499,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ZWS. Raymond James & Associates increased its stake in shares of Zurn Elkay Water Solutions by 1,622.8% in the 4th quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock worth $36,592,000 after acquiring an additional 1,171,985 shares in the last quarter. Global Retirement Partners LLC grew its position in Zurn Elkay Water Solutions by 85.4% during the 4th quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock valued at $93,000 after purchasing an additional 1,517 shares during the last quarter. International Assets Investment Management LLC grew its position in Zurn Elkay Water Solutions by 51,600.0% during the 4th quarter. International Assets Investment Management LLC now owns 29,469 shares of the company’s stock valued at $867,000 after purchasing an additional 29,412 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at about $125,000. Finally, Nisa Investment Advisors LLC grew its position in Zurn Elkay Water Solutions by 16.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock valued at $203,000 after purchasing an additional 1,000 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock traded down $0.36 during mid-day trading on Wednesday, hitting $31.06. The company had a trading volume of 323,590 shares, compared to its average volume of 950,086. Zurn Elkay Water Solutions Co. has a 52-week low of $25.09 and a 52-week high of $34.58. The stock’s 50 day moving average price is $30.67 and its 200-day moving average price is $31.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.95. The company has a market capitalization of $5.36 billion, a P/E ratio of 44.25, a P/E/G ratio of 1.73 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. Zurn Elkay Water Solutions’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Monday, May 20th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, May 17th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.07%.

Analyst Upgrades and Downgrades

ZWS has been the topic of several recent analyst reports. Oppenheimer increased their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Stifel Nicolaus increased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.29.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 48,388 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $32.97, for a total transaction of $1,595,352.36. Following the transaction, the insider now owns 24,220,544 shares in the company, valued at $798,551,335.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 48,388 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $32.97, for a total transaction of $1,595,352.36. Following the transaction, the insider now owns 24,220,544 shares in the company, valued at $798,551,335.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Aimee Katz sold 100,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the transaction, the insider now owns 23,574,164 shares in the company, valued at approximately $684,593,722.56. The disclosure for this sale can be found here. Insiders have sold 251,442 shares of company stock worth $7,716,844 over the last quarter. 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.