OLD National Bancorp IN Lowers Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

OLD National Bancorp IN trimmed its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 18.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,191 shares of the company’s stock after selling 1,653 shares during the quarter. OLD National Bancorp IN’s holdings in Zurn Elkay Water Solutions were worth $211,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Zurn Elkay Water Solutions by 145.1% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock valued at $202,037,000 after purchasing an additional 4,268,785 shares during the last quarter. Invesco Ltd. raised its position in shares of Zurn Elkay Water Solutions by 3.7% in the third quarter. Invesco Ltd. now owns 3,853,230 shares of the company’s stock worth $107,968,000 after acquiring an additional 138,782 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Zurn Elkay Water Solutions by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,726,242 shares of the company’s stock worth $48,369,000 after acquiring an additional 19,074 shares during the period. Northern Trust Corp raised its position in shares of Zurn Elkay Water Solutions by 4.9% in the third quarter. Northern Trust Corp now owns 1,558,078 shares of the company’s stock worth $43,657,000 after acquiring an additional 72,278 shares during the period. Finally, Raymond James & Associates raised its position in shares of Zurn Elkay Water Solutions by 1,622.8% in the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock worth $36,592,000 after acquiring an additional 1,171,985 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 249,582 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the sale, the insider now owns 24,505,660 shares in the company, valued at approximately $785,161,346.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Timothy J. Jahnke sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.09, for a total value of $992,700.00. Following the completion of the sale, the director now owns 589,275 shares of the company’s stock, valued at approximately $19,499,109.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ice Mountain Llc sold 249,582 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the completion of the sale, the insider now directly owns 24,505,660 shares of the company’s stock, valued at approximately $785,161,346.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 741,506 shares of company stock worth $23,964,936. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Stock Down 0.6 %

ZWS opened at $31.69 on Friday. Zurn Elkay Water Solutions Co. has a twelve month low of $20.06 and a twelve month high of $34.58. The company has a quick ratio of 1.77, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $31.95 and a 200 day moving average price of $30.03. The company has a market cap of $5.47 billion, a PE ratio of 44.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $374.00 million during the quarter, compared to the consensus estimate of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. Zurn Elkay Water Solutions’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. Sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.17 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were issued a $0.08 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Analyst Ratings Changes

A number of brokerages have weighed in on ZWS. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday. Mizuho downgraded shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Oppenheimer upped their price objective on shares of 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, BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.50.

About Zurn Elkay Water Solutions

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.