Huntington National Bank Sells 76,629 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Huntington National Bank reduced its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 843,593 shares of the company’s stock after selling 76,629 shares during the period. Huntington National Bank owned 0.50% of Zurn Elkay Water Solutions worth $30,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC boosted 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 purchasing an additional 3,498 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Zurn Elkay Water Solutions by 2.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 61,813 shares of the company’s stock valued at $2,222,000 after purchasing an additional 1,594 shares during the period. Principal Financial Group Inc. raised its stake in shares of Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after purchasing an additional 868,748 shares during the period. Amalgamated Bank raised its stake in shares of Zurn Elkay Water Solutions by 714.9% in the 3rd quarter. Amalgamated Bank now owns 42,368 shares of the company’s stock valued at $1,523,000 after purchasing an additional 37,169 shares during the period. Finally, Impax Asset Management Group plc raised its stake in shares of Zurn Elkay Water Solutions by 4.1% in the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after purchasing an additional 346,412 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZWS has been the topic of several recent research reports. Mizuho lifted their price target 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. Deutsche Bank Aktiengesellschaft lifted their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird lifted their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.17.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares in the company, valued at $89,333,392.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the transaction, the vice president now owns 80,151 shares of the company’s stock, valued at $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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 Price Performance

Shares of NYSE ZWS opened at $39.41 on Thursday. The business’s 50 day moving average price is $35.64 and its two-hundred day moving average price is $32.67. The company has a market cap of $6.69 billion, a PE ratio of 49.89, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a twelve month low of $27.55 and a twelve month high of $40.64.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The company had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 EPS 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. Investors of record on Wednesday, November 20th will be paid a $0.09 dividend. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is 40.51%.

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.