IQ EQ FUND MANAGEMENT IRELAND Ltd Decreases Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 67.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,439 shares of the company’s stock after selling 47,238 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Zurn Elkay Water Solutions were worth $837,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ZWS. State Street Corp boosted its stake in shares of Zurn Elkay Water Solutions by 63.8% during the third quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after buying an additional 2,119,777 shares during the period. Geode Capital Management LLC lifted its holdings in Zurn Elkay Water Solutions by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock valued at $117,060,000 after acquiring an additional 35,570 shares during the period. Principal Financial Group Inc. boosted its position in shares of Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after purchasing an additional 868,748 shares in the last quarter. Crescent Grove Advisors LLC grew its stake in shares of Zurn Elkay Water Solutions by 5.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company’s stock worth $90,842,000 after purchasing an additional 130,732 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at about $80,457,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred 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. The trade was a 37.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the 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 transaction, the chief financial officer now directly owns 59,410 shares in the company, valued at approximately $2,107,272.70. This represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Zurn Elkay Water Solutions Stock Down 0.5 %

Shares of NYSE ZWS opened at $33.80 on Friday. The firm’s 50-day moving average is $36.00 and its two-hundred day moving average is $36.84. The company has a market capitalization of $5.71 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, February 4th. The company reported $0.32 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%. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 39.13%.

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.