Amalgamated Bank Lowers Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Amalgamated Bank cut its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 41,931 shares of the company’s stock after selling 437 shares during the period. Amalgamated Bank’s holdings in Zurn Elkay Water Solutions were worth $1,564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Zurn Elkay Water Solutions by 63.8% in the 3rd 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. Principal Financial Group Inc. grew its stake 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. Impax Asset Management Group plc increased its holdings in Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after purchasing an additional 346,412 shares during the period. JPMorgan Chase & Co. raised its position in Zurn Elkay Water Solutions by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock valued at $58,077,000 after purchasing an additional 329,563 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Zurn Elkay Water Solutions in the 3rd quarter worth $10,947,000. Institutional investors own 83.33% of the company’s stock.

Insider Activity at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 8,390 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was 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 $504,094,718.40. This trade represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Zurn Elkay Water Solutions Stock Up 1.0 %

Zurn Elkay Water Solutions stock opened at $35.42 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.02 billion, a P/E ratio of 38.50, a P/E/G ratio of 2.01 and a beta of 1.15. The business has a fifty day moving average of $37.28 and a two-hundred day moving average of $36.60. Zurn Elkay Water Solutions Co. has a twelve month low of $28.25 and a twelve month 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, beating the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. On average, analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 20th. Zurn Elkay Water Solutions’s payout ratio is presently 39.13%.

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.