J. W. Coons Advisors LLC Trims Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

J. W. Coons Advisors LLC reduced its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 66.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 688,164 shares of the company’s stock after selling 1,391,836 shares during the period. Zurn Elkay Water Solutions accounts for 6.2% of J. W. Coons Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. J. W. Coons Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $24,733,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZWS. Bleakley Financial Group LLC grew its position in Zurn Elkay Water Solutions by 1.3% in the third quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock worth $750,000 after acquiring an additional 269 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in shares of Zurn Elkay Water Solutions by 76.7% during the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after purchasing an additional 373 shares during the period. MJP Associates Inc. ADV grew its holdings in shares of Zurn Elkay Water Solutions by 5.5% in the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock worth $300,000 after purchasing an additional 534 shares during the last quarter. Quarry LP increased its stake in Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after buying an additional 536 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Zurn Elkay Water Solutions by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock valued at $1,203,000 after buying an additional 561 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the sale, the chief financial officer now owns 47,572 shares of the company’s stock, valued at $1,862,443.80. The trade was a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,688 shares of company stock valued at $8,400,151. 3.80% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Stock Up 0.0 %

NYSE:ZWS opened at $38.91 on Monday. The firm has a market capitalization of $6.60 billion, a P/E ratio of 49.25, a PEG ratio of 1.97 and a beta of 1.14. The company’s fifty day moving average price is $36.16 and its 200-day moving average price is $32.83. Zurn Elkay Water Solutions Co. has a 1-year low of $27.55 and a 1-year high of $40.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The company had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. During the same period in the previous year, the company 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. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be 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 is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 40.51%.

Wall Street Analysts Forecast Growth

ZWS has been the subject of several research analyst reports. Oppenheimer lifted their price target on shares of 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. Robert W. Baird upped their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Mizuho increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.17.

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.