Handelsbanken Fonder AB Has $1.58 Million Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Handelsbanken Fonder AB cut its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 13.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,418 shares of the company’s stock after selling 6,700 shares during the period. Handelsbanken Fonder AB’s holdings in Zurn Elkay Water Solutions were worth $1,582,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ZWS. Creative Planning grew its stake in shares of Zurn Elkay Water Solutions by 95.7% in the third quarter. Creative Planning now owns 29,553 shares of the company’s stock valued at $1,062,000 after acquiring an additional 14,452 shares in the last quarter. International Assets Investment Management LLC grew its stake in Zurn Elkay Water Solutions by 3,475.8% during the third quarter. International Assets Investment Management LLC now owns 35,293 shares of the company’s stock worth $1,268,000 after buying an additional 34,306 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Zurn Elkay Water Solutions during the third quarter worth about $2,943,000. New York State Teachers Retirement System acquired a new stake in Zurn Elkay Water Solutions during the third quarter worth about $1,172,000. Finally, Janney Montgomery Scott LLC grew its stake in Zurn Elkay Water Solutions by 0.3% during the third quarter. Janney Montgomery Scott LLC now owns 209,209 shares of the company’s stock worth $7,519,000 after buying an additional 700 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Trading Down 0.3 %

ZWS opened at $35.21 on Thursday. The company’s 50 day moving average is $37.36 and its 200-day moving average is $36.49. Zurn Elkay Water Solutions Co. has a 1-year low of $28.25 and a 1-year high of $41.15. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.99 billion, a P/E ratio of 38.27, a PEG ratio of 2.01 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share 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%. Equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed 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 of this dividend is Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

Insider Activity at Zurn Elkay Water Solutions

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now owns 15,002,819 shares in the company, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the firm’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 transaction of $297,593.30. Following the completion of the transaction, the chief financial officer now owns 59,410 shares of the company’s stock, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZWS. Stifel Nicolaus increased 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. Mizuho increased their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, 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 note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.67.

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.