DekaBank Deutsche Girozentrale Has $26.10 Million Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

DekaBank Deutsche Girozentrale cut its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 21.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800,000 shares of the company’s stock after selling 214,000 shares during the period. DekaBank Deutsche Girozentrale owned 0.46% of Zurn Elkay Water Solutions worth $26,098,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZWS. Vanguard Group Inc. raised its stake in shares of Zurn Elkay Water Solutions by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock valued at $404,041,000 after acquiring an additional 131,683 shares in the last quarter. Brown Advisory Inc. boosted its stake in Zurn Elkay Water Solutions by 1.8% in the 4th quarter. Brown Advisory Inc. now owns 2,797,537 shares of the company’s stock valued at $82,276,000 after buying an additional 48,695 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Zurn Elkay Water Solutions by 2,110.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after buying an additional 2,206,508 shares in the last quarter. Crescent Grove Advisors LLC boosted its stake in Zurn Elkay Water Solutions by 8.4% in the 1st quarter. Crescent Grove Advisors LLC now owns 2,304,715 shares of the company’s stock valued at $77,139,000 after buying an additional 178,861 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Zurn Elkay Water Solutions by 5.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,411,313 shares of the company’s stock valued at $47,237,000 after buying an additional 75,430 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Aimee Katz sold 100,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the sale, the insider now owns 23,574,164 shares of the company’s stock, valued at approximately $684,593,722.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total value of $134,878.86. Following the completion of the transaction, the director now directly owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Aimee Katz sold 100,000 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $29.04, for a total value of $2,904,000.00. Following the completion of the transaction, the insider now directly owns 23,574,164 shares of the company’s stock, valued at $684,593,722.56. The disclosure for this sale can be found here. Insiders have sold 255,528 shares of company stock valued at $7,851,723 over the last 90 days. 3.80% of the stock is owned by corporate insiders.

Zurn Elkay Water Solutions Stock Performance

NYSE:ZWS traded down $0.81 on Friday, hitting $30.51. The company’s stock had a trading volume of 984,292 shares, compared to its average volume of 940,062. The company has a current ratio of 2.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average of $30.56 and a two-hundred day moving average of $31.28. The firm has a market capitalization of $5.22 billion, a P/E ratio of 42.97, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. Zurn Elkay Water Solutions Co. has a one year low of $25.09 and a one year high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $412.00 million for the quarter, compared to analyst estimates of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 earnings per share. Research analysts predict that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Tuesday, August 20th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ZWS shares. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Oppenheimer boosted their target price on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.17.

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.