Orion Portfolio Solutions LLC Sells 824 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Orion Portfolio Solutions LLC cut its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,285 shares of the company’s stock after selling 824 shares during the period. Orion Portfolio Solutions LLC’s holdings in Zurn Elkay Water Solutions were worth $585,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ZWS. State Street Corp increased 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 valued at $195,585,000 after buying an additional 2,119,777 shares during the period. Principal Financial Group Inc. increased its stake in shares of Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after buying an additional 868,748 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Zurn Elkay Water Solutions by 37.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after buying an additional 465,701 shares during the period. Impax Asset Management Group plc increased its stake in shares of Zurn Elkay Water Solutions by 4.1% during the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after buying an additional 346,412 shares during the period. Finally, Public Sector Pension Investment Board purchased a new position in shares of Zurn Elkay Water Solutions during the third quarter valued at approximately $10,947,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 4,070 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the transaction, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the transaction, the vice president now directly owns 35,422 shares in the company, valued at approximately $1,386,771.30. The trade was a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,237 shares of company stock valued at $6,164,583. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 1.5 %

NYSE ZWS opened at $38.99 on Wednesday. Zurn Elkay Water Solutions Co. has a 12 month low of $27.55 and a 12 month high of $41.15. The stock has a market cap of $6.62 billion, a P/E ratio of 49.36, a P/E/G ratio of 2.02 and a beta of 1.14. The stock’s fifty day moving average price is $38.50 and its 200-day moving average price is $34.05. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were paid a $0.09 dividend. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.57%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ZWS. Mizuho boosted their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Oppenheimer upped their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird upped their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

About Zurn Elkay Water Solutions

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.