Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stake Increased by Citigroup Inc.

Citigroup Inc. grew its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 282,086 shares of the company’s stock after purchasing an additional 16,873 shares during the period. Citigroup Inc. owned approximately 0.17% of Zurn Elkay Water Solutions Cor worth $9,303,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. 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 worth $132,661,000 after acquiring an additional 2,304,285 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 2.4% during the first quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock worth $523,094,000 after acquiring an additional 371,635 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of 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 worth $36,762,000 after acquiring an additional 364,142 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 6.5% during the fourth quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company’s stock worth $149,444,000 after acquiring an additional 245,258 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Zurn Elkay Water Solutions Cor by 45.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 533,849 shares of the company’s stock worth $17,606,000 after acquiring an additional 166,080 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, Robert W. Baird cut their price objective on 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.00.

Insider Activity

In other news, Director Timothy J. Jahnke sold 9,857 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total value of $444,156.42. Following the sale, the director directly owned 328,964 shares of the company’s stock, valued at approximately $14,823,117.84. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the completion of the sale, the vice president directly owned 94,330 shares in the company, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,930 shares of company stock worth $6,501,529. 2.60% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Cor Trading Down 1.6%

Zurn Elkay Water Solutions Cor stock opened at $44.66 on Friday. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $45.90. The company’s fifty day moving average price is $38.87 and its two-hundred day moving average price is $35.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 44.22, a PEG ratio of 2.44 and a beta of 1.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $444.50 million for the quarter, compared to the consensus estimate of $424.55 million. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. On average, analysts forecast 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 firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 35.64%.

About Zurn Elkay Water Solutions Cor

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.