CIBC Private Wealth Group LLC Sells 14,267 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

CIBC Private Wealth Group LLC cut its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 515,604 shares of the company’s stock after selling 14,267 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Zurn Elkay Water Solutions were worth $19,057,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Zurn Elkay Water Solutions by 11.2% in the 3rd quarter. FMR LLC now owns 14,070 shares of the company’s stock valued at $506,000 after acquiring an additional 1,416 shares during the last quarter. Captrust Financial Advisors grew its holdings in Zurn Elkay Water Solutions by 7.8% during the third quarter. Captrust Financial Advisors now owns 7,832 shares of the company’s stock valued at $281,000 after purchasing an additional 570 shares during the period. Verition Fund Management LLC increased its stake in Zurn Elkay Water Solutions by 67.3% in the third quarter. Verition Fund Management LLC now owns 75,430 shares of the company’s stock valued at $2,711,000 after purchasing an additional 30,337 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Zurn Elkay Water Solutions by 687.7% in the third quarter. Benjamin Edwards Inc. now owns 12,856 shares of the company’s stock worth $462,000 after purchasing an additional 11,224 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Zurn Elkay Water Solutions by 3.3% during the third quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock worth $293,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus upped their price objective on shares of 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.40.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS opened at $33.00 on Tuesday. The firm has a market cap of $5.57 billion, a P/E ratio of 35.87, a PEG ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions Co. has a twelve month low of $28.25 and a twelve month high of $41.15. The firm’s 50 day moving average price is $35.79 and its two-hundred day moving average price is $36.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (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%. On average, analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders 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 1.09%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 39.13%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. This represents a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s 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 transaction, the insider now owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

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.