Huntington National Bank Sells 138,371 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Huntington National Bank reduced its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 16.4% in the fourth quarter, Holdings Channel reports. The fund owned 705,222 shares of the company’s stock after selling 138,371 shares during the quarter. Huntington National Bank’s holdings in Zurn Elkay Water Solutions were worth $26,305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Zurn Elkay Water Solutions by 291.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 71,111 shares of the company’s stock worth $2,652,000 after buying an additional 52,964 shares during the last quarter. HighPoint Advisor Group LLC raised its position in Zurn Elkay Water Solutions by 99.9% during the fourth quarter. HighPoint Advisor Group LLC now owns 275,545 shares of the company’s stock valued at $10,190,000 after purchasing an additional 137,683 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Zurn Elkay Water Solutions by 180.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 17,777 shares of the company’s stock valued at $663,000 after purchasing an additional 11,428 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Zurn Elkay Water Solutions by 20.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 21,820 shares of the company’s stock worth $814,000 after purchasing an additional 3,697 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Zurn Elkay Water Solutions by 10.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 367,857 shares of the company’s stock valued at $13,721,000 after purchasing an additional 34,574 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Price Performance

ZWS opened at $33.12 on Wednesday. The business has a fifty day moving average of $35.68 and a 200 day moving average of $36.92. The stock has a market cap of $5.59 billion, a P/E ratio of 36.00, a PEG ratio of 2.01 and a beta of 1.16. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 52-week low of $28.25 and a 52-week high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. As a group, sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a $0.09 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.09%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 39.13%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average price target of $38.40.

Insiders Place Their Bets

In other news, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now owns 59,410 shares of the company’s stock, valued at approximately $2,107,272.70. This represents a 12.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the transaction, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

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.