Swiss National Bank Decreases Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Swiss National Bank reduced its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 285,700 shares of the company’s stock after selling 900 shares during the period. Swiss National Bank’s holdings in Zurn Elkay Water Solutions were worth $10,657,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ZWS. GAMMA Investing LLC raised its holdings in Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after acquiring an additional 544 shares during the last quarter. Tsfg LLC bought a new stake in Zurn Elkay Water Solutions in the 4th quarter worth approximately $56,000. Tortoise Investment Management LLC grew its position in Zurn Elkay Water Solutions by 77.4% in the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after purchasing an additional 755 shares during the period. KBC Group NV grew its position in Zurn Elkay Water Solutions by 20.9% in the 3rd quarter. KBC Group NV now owns 3,978 shares of the company’s stock worth $143,000 after purchasing an additional 688 shares during the period. Finally, Millburn Ridgefield Corp grew its position in Zurn Elkay Water Solutions by 1,152.5% in the 3rd quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock worth $186,000 after purchasing an additional 4,760 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the transaction, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. The trade was a 12.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction 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 trade represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Zurn Elkay Water Solutions Trading Down 1.1 %

Shares of ZWS stock opened at $33.65 on Friday. Zurn Elkay Water Solutions Co. has a 1 year low of $28.25 and a 1 year high of $41.15. The firm has a fifty day moving average price of $36.31 and a 200-day moving average price of $36.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 39.13%.

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.