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

CIBC Private Wealth Group LLC reduced its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 515,604 shares of the company’s stock after selling 14,267 shares during the period. CIBC Private Wealth Group LLC owned 0.30% of Zurn Elkay Water Solutions worth $19,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its holdings 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 worth $195,585,000 after buying an additional 2,119,777 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 during the period. Principal Financial Group Inc. raised its position in 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 worth $94,161,000 after purchasing an additional 868,748 shares in the last quarter. Crescent Grove Advisors LLC lifted its stake in Zurn Elkay Water Solutions by 5.7% during the fourth quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company’s stock worth $90,842,000 after purchasing an additional 130,732 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Zurn Elkay Water Solutions during the fourth quarter valued at approximately $80,457,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.40.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $33.00 on Tuesday. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 2.01 and a beta of 1.16. 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 current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1-year low of $28.25 and a 1-year high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.09%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of the firm’s 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 in the company, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the transaction, the insider now directly 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. 2.60% of the stock is currently owned by company insiders.

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.