Natixis Investment Managers International Cuts Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Natixis Investment Managers International lessened its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 25.9% in the first quarter, HoldingsChannel.com reports. The firm owned 2,911 shares of the company’s stock after selling 1,018 shares during the quarter. Natixis Investment Managers International’s holdings in Zurn Elkay Water Solutions were worth $97,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Zurn Elkay Water Solutions by 1.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 20,109 shares of the company’s stock valued at $591,000 after purchasing an additional 359 shares in the last quarter. Assetmark Inc. increased its holdings in Zurn Elkay Water Solutions by 32.9% during the 4th quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock valued at $85,000 after acquiring an additional 718 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Zurn Elkay Water Solutions by 16.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock valued at $203,000 after acquiring an additional 1,000 shares in the last quarter. Principal Securities Inc. purchased a new position in Zurn Elkay Water Solutions during the 4th quarter valued at about $34,000. Finally, Benjamin Edwards Inc. purchased a new position in Zurn Elkay Water Solutions during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ZWS has been the subject of several recent research reports. Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.29.

Zurn Elkay Water Solutions Trading Up 3.1 %

Shares of NYSE ZWS traded up $0.94 during midday trading on Thursday, reaching $31.56. 994,622 shares of the stock were exchanged, compared to its average volume of 953,330. The company has a market capitalization of $5.45 billion, a P/E ratio of 44.45, a P/E/G ratio of 1.74 and a beta of 1.15. Zurn Elkay Water Solutions Co. has a 52-week low of $25.09 and a 52-week high of $34.58. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $30.61 and a 200-day moving average price of $31.10.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The business had revenue of $374.00 million during the quarter, compared to the consensus estimate of $369.43 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, May 20th were given a $0.08 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Insider Buying and Selling

In related news, major shareholder Aimee Katz sold 8,240 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $29.14, for a total value of $240,113.60. Following the sale, the insider now directly owns 23,565,924 shares of the company’s stock, valued at $686,711,025.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 48,388 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $32.97, for a total transaction of $1,595,352.36. Following the transaction, the insider now directly owns 24,220,544 shares of the company’s stock, valued at $798,551,335.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Aimee Katz sold 8,240 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $29.14, for a total transaction of $240,113.60. Following the transaction, the insider now directly owns 23,565,924 shares in the company, valued at $686,711,025.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,442 shares of company stock valued at $7,716,844. Insiders own 3.80% of the company’s stock.

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.