Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 48,118 shares of the company’s stock after selling 367 shares during the period. Maryland State Retirement & Pension System’s holdings in Zurn Elkay Water Solutions were worth $1,795,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after purchasing an additional 544 shares during the last quarter. Atala Financial Inc acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth $44,000. Tsfg LLC acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth $56,000. Tortoise Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 77.4% during the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after purchasing an additional 755 shares during the last quarter. Finally, KBC Group NV raised its holdings in Zurn Elkay Water Solutions by 20.9% during the third quarter. KBC Group NV now owns 3,978 shares of the company’s stock worth $143,000 after purchasing an additional 688 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions presently has a consensus rating of “Hold” and a consensus price target of $38.40.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $33.42 on Friday. Zurn Elkay Water Solutions Co. has a fifty-two week low of $28.25 and a fifty-two week high of $41.15. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16. The business has a fifty day moving average of $36.26 and a 200-day moving average of $36.74. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31.

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

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 39.13%.

Insider Activity

In other news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction 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 sale, the insider now directly 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. Company insiders own 3.80% of the company’s stock.

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.