HighPoint Advisor Group LLC Sells 137,910 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS)

HighPoint Advisor Group LLC lessened its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 50.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 137,635 shares of the company’s stock after selling 137,910 shares during the period. HighPoint Advisor Group LLC owned about 0.08% of Zurn Elkay Water Solutions Cor worth $4,703,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ZWS. First Trust Advisors LP raised its holdings in shares of Zurn Elkay Water Solutions Cor by 184.0% during the fourth quarter. First Trust Advisors LP now owns 3,556,599 shares of the company’s stock valued at $132,661,000 after purchasing an additional 2,304,285 shares during the last quarter. Norges Bank purchased a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $61,412,000. Invesco Ltd. increased its holdings in Zurn Elkay Water Solutions Cor by 26.8% during the fourth quarter. Invesco Ltd. now owns 5,880,302 shares of the company’s stock valued at $219,335,000 after buying an additional 1,242,642 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Zurn Elkay Water Solutions Cor by 58.6% during the fourth quarter. Ameriprise Financial Inc. now owns 985,576 shares of the company’s stock valued at $36,762,000 after buying an additional 364,142 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Zurn Elkay Water Solutions Cor by 19.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,935,839 shares of the company’s stock valued at $72,207,000 after buying an additional 319,895 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on ZWS shares. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions Cor from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group reduced their target price on shares of Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Robert W. Baird reduced their target price on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Finally, BNP Paribas lowered shares of Zurn Elkay Water Solutions Cor from an “outperform” rating to a “neutral” rating and set a $29.00 price target for the company. in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.86.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $37.68 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.87. The firm has a fifty day moving average price of $36.61 and a 200 day moving average price of $35.33. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $41.15. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 2.32 and a beta of 0.99.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. The firm had revenue of $388.80 million during the quarter, compared to analyst estimates of $383.87 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. As a group, sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 36.36%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 25,921 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.19, for a total transaction of $964,001.99. Following the completion of the transaction, the vice president owned 94,132 shares in the company, valued at $3,500,769.08. This trade represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David J. Pauli sold 2,706 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the transaction, the chief financial officer owned 60,772 shares of the company’s stock, valued at $2,255,248.92. This trade represents a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Cor 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.