Epoch Investment Partners Inc. cut its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 81.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,770 shares of the company's stock after selling 187,504 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Zurn Elkay Water Solutions were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Securities Inc. purchased a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter valued at approximately $34,000. Norges Bank purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $39,532,000. UBS Group AG grew its holdings in Zurn Elkay Water Solutions by 37.5% in the 4th quarter. UBS Group AG now owns 217,525 shares of the company's stock worth $6,397,000 after acquiring an additional 59,278 shares during the last quarter. Assetmark Inc. increased its position in shares of Zurn Elkay Water Solutions by 32.9% in the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company's stock valued at $85,000 after acquiring an additional 718 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of Zurn Elkay Water Solutions by 3,236.0% during the fourth quarter. Stifel Financial Corp now owns 506,269 shares of the company's stock valued at $14,889,000 after acquiring an additional 491,093 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.
In related news, major shareholder Aimee Katz sold 8,240 shares of the firm's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $29.14, for a total transaction of $240,113.60. Following the completion of the transaction, the insider now owns 23,565,924 shares of the company's stock, valued at approximately $686,711,025.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Timothy J. Jahnke sold 10,035 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the sale, the director now owns 374,982 shares in the company, valued at $13,124,370. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Aimee Katz sold 8,240 shares of the business's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $29.14, for a total transaction of $240,113.60. Following the completion of the transaction, the insider now owns 23,565,924 shares of the company's stock, valued at $686,711,025.36. The disclosure for this sale can be found here. Insiders have sold a total of 190,812 shares of company stock valued at $5,865,786 in the last ninety days. 3.80% of the stock is currently owned by corporate insiders.
NYSE ZWS opened at $34.17 on Tuesday. The firm has a market capitalization of $5.90 billion, a PE ratio of 48.13, a P/E/G ratio of 1.80 and a beta of 1.14. The stock's 50 day moving average is $31.72 and its 200 day moving average is $31.49. Zurn Elkay Water Solutions Co. has a twelve month low of $25.09 and a twelve month high of $35.18. The company has a quick ratio of 1.75, a current ratio of 2.84 and a debt-to-equity ratio of 0.31.
Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released 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. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The firm had revenue of $412.00 million for the quarter, compared to the consensus estimate of $409.14 million. During the same period in the prior year, the firm earned $0.24 EPS. The company's revenue was up 2.2% compared to the same quarter last year. Research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.94%. Zurn Elkay Water Solutions's payout ratio is 45.07%.
A number of brokerages recently issued reports on ZWS. Deutsche Bank Aktiengesellschaft boosted their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Oppenheimer reaffirmed an "outperform" rating and issued a $37.00 price target on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Finally, Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a "hold" rating in a report on Thursday, July 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $35.17.
View Our Latest Stock Analysis on ZWS
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.
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