Bessemer Group Inc. Has $35,000 Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Bessemer Group Inc. trimmed its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 77.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 925 shares of the company’s stock after selling 3,267 shares during the period. Bessemer Group Inc.’s holdings in Zurn Elkay Water Solutions were worth $35,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC raised its position in shares of Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company’s stock valued at $10,952,000 after purchasing an additional 140,624 shares during the period. Principal Financial Group Inc. grew its position 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 valued at $94,161,000 after purchasing an additional 868,748 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Zurn Elkay Water Solutions by 25.6% during 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 period. Perpetual Ltd lifted its holdings in Zurn Elkay Water Solutions by 8.4% during the 4th quarter. Perpetual Ltd now owns 214,189 shares of the company’s stock worth $7,989,000 after purchasing an additional 16,520 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at $556,000. 83.33% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. This represents a 12.37 % decrease in their position. 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 the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the sale, the insider now directly owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BNP Paribas downgraded Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 target price for the company. in a report on Wednesday, April 9th. Stifel Nicolaus raised shares of Zurn Elkay Water Solutions from a “hold” rating to a “buy” rating and lowered their price target for the stock from $39.00 to $34.00 in a research report on Wednesday. Finally, The Goldman Sachs Group cut their price objective on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Hold” and a consensus target price of $35.71.

Zurn Elkay Water Solutions Trading Up 1.5 %

Shares of Zurn Elkay Water Solutions stock opened at $30.04 on Friday. The firm’s 50-day moving average price is $33.14 and its two-hundred day moving average price is $36.40. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 2.01 and a beta of 1.08. 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 Co. has a 12-month low of $27.74 and a 12-month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results 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 return on equity of 14.03% and a net margin of 10.23%. On average, analysts forecast 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 company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were issued a $0.09 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.20%. Zurn Elkay Water Solutions’s payout ratio is presently 39.13%.

Zurn Elkay Water Solutions Company 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.