Truist Financial Corp Sells 2,121 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Truist Financial Corp cut its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,052 shares of the company’s stock after selling 2,121 shares during the period. Truist Financial Corp owned about 0.10% of Zurn Elkay Water Solutions worth $6,231,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after acquiring an additional 544 shares during the last quarter. Tsfg LLC acquired a new position in Zurn Elkay Water Solutions during the 4th quarter worth $56,000. KBC Group NV boosted its position in Zurn Elkay Water Solutions by 20.9% in the 3rd quarter. KBC Group NV now owns 3,978 shares of the company’s stock valued at $143,000 after buying an additional 688 shares during the last quarter. Millburn Ridgefield Corp increased its stake in shares of Zurn Elkay Water Solutions by 1,152.5% in the 3rd quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock valued at $186,000 after buying an additional 4,760 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Zurn Elkay Water Solutions by 78.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,294 shares of the company’s stock worth $235,000 after acquiring an additional 2,769 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on ZWS shares. Robert W. Baird raised their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho raised their target price on shares of 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. Finally, Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Insider Activity at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of the business’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 in the company, valued at approximately $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the business’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 transaction of $299,460,000.00. Following the transaction, the insider now owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Stock Down 1.3 %

Shares of NYSE:ZWS opened at $34.90 on Friday. 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 moving average of $37.57 and a 200-day moving average of $36.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 37.93, a P/E/G ratio of 2.01 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data 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 net margin of 10.23% and a return on equity of 14.03%. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Thursday, February 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 39.13%.

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.