Amundi Decreases Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Amundi reduced its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 32.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 926,783 shares of the company’s stock after selling 453,772 shares during the quarter. Amundi owned about 0.55% of Zurn Elkay Water Solutions worth $34,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC lifted its position in shares of Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company’s stock valued at $10,952,000 after acquiring an additional 140,624 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after acquiring an additional 868,748 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in shares of Zurn Elkay Water Solutions by 23.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock valued at $3,323,000 after acquiring an additional 17,350 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Zurn Elkay Water Solutions by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock valued at $58,077,000 after acquiring an additional 329,563 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of 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 in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $32.79 on Thursday. The firm has a market capitalization of $5.58 billion, a P/E ratio of 35.64, a PEG ratio of 2.01 and a beta of 1.16. The stock has a fifty day moving average price of $36.73 and a 200 day moving average price of $36.72. Zurn Elkay Water Solutions Co. has a 52 week low of $28.25 and a 52 week high of $41.15. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate 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 research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.10%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 39.13%.

Insiders Place Their Bets

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction dated Thursday, February 13th. The stock was 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 owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now owns 59,410 shares of the company’s stock, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Zurn Elkay Water Solutions Company 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.