Swiss National Bank Sells 900 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Swiss National Bank reduced its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,700 shares of the company’s stock after selling 900 shares during the quarter. Swiss National Bank owned 0.17% of Zurn Elkay Water Solutions worth $10,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZWS. Raymond James Financial Inc. bought a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth about $80,457,000. State Street Corp grew its stake in shares of Zurn Elkay Water Solutions by 63.8% in the third quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after purchasing an additional 2,119,777 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after purchasing an additional 868,748 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zurn Elkay Water Solutions by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock worth $58,077,000 after purchasing an additional 329,563 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in shares of Zurn Elkay Water Solutions in the third quarter worth about $10,947,000. 83.33% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions 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 transaction, the chief financial officer now owns 59,410 shares of the company’s stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus raised their target price on 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $38.40.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS opened at $33.65 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. Zurn Elkay Water Solutions Co. has a one year low of $28.25 and a one year high of $41.15. The company has a 50-day simple moving average of $36.31 and a two-hundred day simple moving average of $36.73. The firm has a market capitalization of $5.72 billion, a PE ratio of 36.58, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate 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%. On average, analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

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

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.