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

Swiss National Bank trimmed its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 286,600 shares of the company’s stock after selling 1,000 shares during the period. Swiss National Bank owned 0.17% of Zurn Elkay Water Solutions worth $10,300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans purchased a new stake in Zurn Elkay Water Solutions in the third quarter valued at approximately $4,052,000. Mutual of America Capital Management LLC acquired a new position in shares of Zurn Elkay Water Solutions in the 3rd quarter valued at $776,000. CIBC Asset Management Inc purchased a new stake in shares of Zurn Elkay Water Solutions during the 3rd quarter valued at $372,000. KBC Group NV increased its holdings in shares of Zurn Elkay Water Solutions by 20.9% during the 3rd quarter. KBC Group NV now owns 3,978 shares of the company’s stock worth $143,000 after buying an additional 688 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Zurn Elkay Water Solutions by 63.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 9,011 shares of the company’s stock worth $324,000 after buying an additional 3,498 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

ZWS has been the subject of several research analyst reports. Oppenheimer upped their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Mizuho increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. 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 research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.17.

Insider Activity

In other news, CFO David J. Pauli sold 4,070 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $159,340.50. Following the transaction, the chief financial officer now owns 47,572 shares of the company’s stock, valued at $1,862,443.80. The trade was a 7.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the sale, the vice president now directly owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. This represents a 39.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock worth $8,400,151 over the last three months. Corporate insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Trading Up 1.5 %

Shares of NYSE:ZWS opened at $39.93 on Monday. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.55 and a fifty-two week high of $40.64. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.78 billion, a PE ratio of 50.54, a P/E/G ratio of 1.99 and a beta of 1.14. The company’s 50-day moving average price is $36.85 and its 200 day moving average price is $33.09.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS. Sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a $0.09 dividend. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.57%.

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.