Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 2.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,685 shares of the company’s stock after selling 2,259 shares during the period. MetLife Investment Management LLC’s holdings in Zurn Elkay Water Solutions were worth $2,936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 2.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after purchasing an additional 265,857 shares during the period. Impax Asset Management Group plc raised its holdings in shares of Zurn Elkay Water Solutions by 4.1% during the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after purchasing an additional 346,412 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after acquiring an additional 868,748 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Zurn Elkay Water Solutions by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,859,433 shares of the company’s stock worth $66,828,000 after acquiring an additional 65,426 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Zurn Elkay Water Solutions by 37.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after acquiring an additional 465,701 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Zurn Elkay Water Solutions news, VP Jeffrey J. Lavalle sold 3,132 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the transaction, the vice president now directly owns 35,422 shares in the company, valued at $1,386,771.30. This trade represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the transaction, the vice president now owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. The trade was a 39.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,688 shares of company stock worth $8,400,151. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

ZWS has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Oppenheimer increased their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Robert W. Baird increased their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Mizuho increased 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 report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.17.

Zurn Elkay Water Solutions Stock Up 0.1 %

Zurn Elkay Water Solutions stock opened at $40.32 on Wednesday. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 51.04, a PEG ratio of 2.04 and a beta of 1.14. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $37.64 and its two-hundred day moving average price is $33.45. Zurn Elkay Water Solutions Co. has a 52 week low of $27.55 and a 52 week high of $40.74.

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

Zurn Elkay Water Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.09 per share. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.57%.

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.