Peregrine Capital Management LLC Trims Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Peregrine Capital Management LLC cut its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWSGet Rating) by 2.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 346,530 shares of the company’s stock after selling 10,482 shares during the quarter. Peregrine Capital Management LLC’s holdings in Zurn Elkay Water Solutions were worth $7,329,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Zurn Elkay Water Solutions during the first quarter valued at about $64,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Zurn Elkay Water Solutions by 21.4% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,341 shares of the company’s stock valued at $106,000 after acquiring an additional 766 shares during the last quarter. Natixis Investment Managers International acquired a new stake in shares of Zurn Elkay Water Solutions during the second quarter valued at about $137,000. Steph & Co. acquired a new stake in shares of Zurn Elkay Water Solutions during the third quarter valued at about $154,000. Finally, KBC Group NV increased its position in shares of Zurn Elkay Water Solutions by 8.4% during the third quarter. KBC Group NV now owns 6,897 shares of the company’s stock valued at $169,000 after acquiring an additional 535 shares during the last quarter. 74.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ZWS shares. Robert W. Baird cut shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $27.00 to $26.00 in a research report on Tuesday, December 20th. Oppenheimer dropped their price target on shares of Zurn Elkay Water Solutions from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Wednesday, December 21st. The Goldman Sachs Group lifted their price target on shares of Zurn Elkay Water Solutions from $27.00 to $29.00 in a research report on Wednesday, February 8th. Mizuho restated a “buy” rating and issued a $26.00 price objective on shares of Zurn Elkay Water Solutions in a report on Wednesday, February 8th. Finally, Stifel Nicolaus dropped their price objective on shares of Zurn Elkay Water Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Friday, January 20th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Zurn Elkay Water Solutions Trading Down 2.1 %

Shares of ZWS stock opened at $20.53 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.35 and a current ratio of 2.62. The stock has a market capitalization of $3.61 billion, a P/E ratio of 41.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25. The company has a 50 day moving average price of $22.35 and a 200 day moving average price of $23.55. Zurn Elkay Water Solutions Co. has a fifty-two week low of $20.10 and a fifty-two week high of $36.82.

Zurn Elkay Water Solutions (NYSE:ZWSGet Rating) last posted its quarterly earnings results on Tuesday, February 7th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Zurn Elkay Water Solutions had a net margin of 4.81% and a return on equity of 15.78%. The company had revenue of $340.00 million during the quarter, compared to analysts’ expectations of $344.77 million. During the same quarter in the previous year, the business posted $0.22 EPS. The firm’s revenue was up 46.4% on a year-over-year basis. Equities research analysts predict that Zurn Elkay Water Solutions Co. will post 0.89 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.36%. The ex-dividend date was Friday, February 17th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 57.14%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, insider Craig Wehr sold 1,442 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $23.17, for a total transaction of $33,411.14. Following the completion of the transaction, the insider now owns 82,640 shares in the company, valued at approximately $1,914,768.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Craig Wehr sold 1,442 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $23.17, for a total transaction of $33,411.14. Following the completion of the sale, the insider now owns 82,640 shares in the company, valued at approximately $1,914,768.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Christopoul sold 23,715 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $23.92, for a total transaction of $567,262.80. Following the sale, the director now owns 95,455 shares of the company’s stock, valued at approximately $2,283,283.60. The disclosure for this sale can be found here. Insiders sold 26,573 shares of company stock worth $633,483 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Company Profile

(Get Rating)

Zurn Elkay Water Solutions Corp. engages in the design, procurement, manufacture, and sale of water solutions. It operates through the United States, Canada, and Rest of World geographical segments. The company is headquartered in Milwaukee, WI.

Further Reading

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Institutional Ownership by Quarter for Zurn Elkay Water Solutions (NYSE:ZWS)

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