OLD National Bancorp IN Decreases Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

OLD National Bancorp IN lowered its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 18.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,191 shares of the company’s stock after selling 1,653 shares during the period. OLD National Bancorp IN’s holdings in Zurn Elkay Water Solutions were worth $211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position in Zurn Elkay Water Solutions by 70.9% during the third quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock worth $72,000 after acquiring an additional 1,064 shares during the last quarter. Global Retirement Partners LLC raised its position in Zurn Elkay Water Solutions by 85.4% during the fourth quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock worth $93,000 after acquiring an additional 1,517 shares during the last quarter. Arlington Trust Co LLC acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth about $125,000. Nisa Investment Advisors LLC raised its position in Zurn Elkay Water Solutions by 16.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in Zurn Elkay Water Solutions during the third quarter worth about $207,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $31.69 on Friday. Zurn Elkay Water Solutions Co. has a 1 year low of $20.06 and a 1 year high of $34.58. The firm has a 50 day moving average price of $31.95 and a 200 day moving average price of $30.03. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 44.63, a PEG ratio of 1.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its 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. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The firm had revenue of $374.00 million during the quarter, compared to the consensus estimate of $369.43 million. During the same period in the previous year, the firm earned $0.18 earnings per share. Zurn Elkay Water Solutions’s revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.17 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were issued a $0.08 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 249,582 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the completion of the sale, the insider now directly owns 24,505,660 shares in the company, valued at $785,161,346.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 249,582 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the completion of the sale, the insider now directly owns 24,505,660 shares in the company, valued at $785,161,346.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark W. Peterson sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.88, for a total transaction of $2,301,600.00. Following the sale, the chief financial officer now owns 302,299 shares of the company’s stock, valued at $9,939,591.12. The disclosure for this sale can be found here. Insiders sold a total of 741,506 shares of company stock worth $23,964,936 over the last ninety days. 3.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ZWS. BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price for the company. Oppenheimer boosted 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of “Hold” and a consensus target price of $33.50.

About Zurn Elkay Water Solutions

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.