Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stake Lessened by Sanctuary Advisors LLC

Sanctuary Advisors LLC decreased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,819 shares of the company’s stock after selling 2,785 shares during the quarter. Sanctuary Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $2,309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ZWS. HighTower Advisors LLC grew its stake in Zurn Elkay Water Solutions by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock valued at $293,000 after acquiring an additional 259 shares in the last quarter. Bleakley Financial Group LLC grew its position in Zurn Elkay Water Solutions by 1.3% during the third quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock valued at $750,000 after purchasing an additional 269 shares in the last quarter. Tortoise Investment Management LLC increased its stake in Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after buying an additional 373 shares during the period. MML Investors Services LLC lifted its position in Zurn Elkay Water Solutions by 2.5% in the 3rd quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock worth $650,000 after buying an additional 449 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Stock Performance

ZWS opened at $37.28 on Thursday. The stock has a 50-day moving average of $38.52 and a 200-day moving average of $34.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. Zurn Elkay Water Solutions Co. has a 52-week low of $27.55 and a 52-week high of $41.15. The company has a market cap of $6.33 billion, a PE ratio of 47.19, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating the consensus estimate 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 company had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same quarter last year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.57%.

Insiders Place Their Bets

In other news, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares in the company, valued at $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the firm’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 $122,617.80. Following the completion of the sale, the vice president now owns 35,422 shares in the company, valued at approximately $1,386,771.30. The trade was a 8.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,202 shares of company stock valued at $5,813,358 in the last quarter. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZWS. Mizuho increased their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus raised 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 boosted their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

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.