Duff & Phelps Investment Management Co. Lowers Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Duff & Phelps Investment Management Co. reduced its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 21.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,283 shares of the company’s stock after selling 90,817 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.20% of Zurn Elkay Water Solutions worth $11,978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Barclays PLC grew its holdings 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 purchasing an additional 140,624 shares in the last quarter. MML Investors Services LLC boosted 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 valued at $650,000 after buying an additional 449 shares during the period. State Street Corp grew its stake in shares of Zurn Elkay Water Solutions by 63.8% in the third quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after acquiring an additional 2,119,777 shares in the last quarter. Millburn Ridgefield Corp increased its position in shares of Zurn Elkay Water Solutions by 1,152.5% during the third quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock worth $186,000 after acquiring an additional 4,760 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of Zurn Elkay Water Solutions by 3.3% in the third 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. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, VP Jeffrey J. Lavalle sold 3,132 shares of the 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 directly owns 35,422 shares of the company’s stock, valued at $1,386,771.30. This trade represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the sale, the vice president now owns 80,151 shares of the company’s stock, valued at $2,608,915.05. This trade represents a 39.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 210,088 shares of company stock worth $7,884,883. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ZWS shares. Oppenheimer lifted their price objective 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. Mizuho lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird increased their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of “Hold” and a consensus target price of $38.17.

Zurn Elkay Water Solutions Trading Up 0.8 %

Shares of Zurn Elkay Water Solutions stock opened at $40.41 on Monday. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $37.96 and a 200-day simple moving average of $33.62. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 51.15, a PEG ratio of 2.05 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 12-month low of $27.55 and a 12-month high of $40.84.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, 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 company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.09 per share. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.36 annualized dividend and a yield of 0.89%. Zurn Elkay Water Solutions’s payout ratio is 45.57%.

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.