State of New Jersey Common Pension Fund D Sells 2,708 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

State of New Jersey Common Pension Fund D reduced its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.4% during the 4th quarter, HoldingsChannel reports. The fund owned 59,105 shares of the company’s stock after selling 2,708 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Zurn Elkay Water Solutions were worth $2,205,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Zurn Elkay Water Solutions by 85.7% during the third quarter. Barclays PLC now owns 304,731 shares of the company’s stock worth $10,952,000 after acquiring an additional 140,624 shares during the last quarter. Principal Financial Group Inc. increased its stake in Zurn Elkay Water Solutions by 49.6% during the third 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 last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of Zurn Elkay Water Solutions by 23.1% during the third quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock valued at $3,323,000 after buying an additional 17,350 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zurn Elkay Water Solutions by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock valued at $58,077,000 after buying an additional 329,563 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Zurn Elkay Water Solutions by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock valued at $117,060,000 after buying an additional 35,570 shares during the last quarter. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Stock Down 1.3 %

Shares of NYSE ZWS opened at $34.90 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 2.02 and a beta of 1.15. The stock has a 50 day moving average price of $37.57 and a 200 day moving average price of $36.34. 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 announced its quarterly earnings results 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 return on equity of 14.03% and a net margin of 10.23%. Sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Thursday, February 20th will be issued a $0.09 dividend. The ex-dividend date is Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. Zurn Elkay Water Solutions’s payout ratio is 39.13%.

Wall Street Analysts Forecast Growth

ZWS has been the topic of a number of analyst reports. Mizuho upped their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Finally, Robert W. Baird upped their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now owns 15,002,819 shares in the company, valued at $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following 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 disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

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.