Zurcher Kantonalbank Zurich Cantonalbank Sells 979 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,541 shares of the company’s stock after selling 979 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zurn Elkay Water Solutions were worth $2,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Bleakley Financial Group LLC boosted its stake in Zurn Elkay Water Solutions by 1.3% during the third quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock worth $750,000 after buying an additional 269 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in Zurn Elkay Water Solutions by 76.7% during the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after buying an additional 373 shares in the last quarter. MJP Associates Inc. ADV boosted its stake in Zurn Elkay Water Solutions by 5.5% during the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock worth $300,000 after buying an additional 534 shares in the last quarter. Quarry LP boosted its stake in Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after buying an additional 536 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Zurn Elkay Water Solutions by 1.4% during the second quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock worth $1,203,000 after buying an additional 561 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ZWS shares. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird boosted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Oppenheimer boosted 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 research note on Tuesday, October 22nd. Finally, Mizuho boosted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions currently has an average rating of “Hold” and a consensus price target of $38.17.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. The trade was a 5.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the sale, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock valued at $8,400,151 over the last ninety days. 3.00% of the stock is owned by insiders.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $40.32 on Wednesday. The stock has a 50-day simple moving average of $37.64 and a 200 day simple moving average of $33.45. 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 Co. has a 12-month low of $27.55 and a 12-month high of $40.74. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 51.04, a P/E/G ratio of 2.04 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last released 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. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. During the same period in the previous year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is currently 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.