Visionary Wealth Advisors Sells 6,700 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Visionary Wealth Advisors trimmed its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 17.9% in the fourth quarter, HoldingsChannel reports. The firm owned 30,626 shares of the company’s stock after selling 6,700 shares during the quarter. Visionary Wealth Advisors’ holdings in Zurn Elkay Water Solutions were worth $1,142,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ZWS. First Trust Advisors LP grew its position in shares of Zurn Elkay Water Solutions by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company’s stock valued at $132,661,000 after acquiring an additional 2,304,285 shares during the period. Raymond James Financial Inc. bought a new position in shares of Zurn Elkay Water Solutions during the 4th quarter valued at approximately $80,457,000. Norges Bank bought a new position in shares of Zurn Elkay Water Solutions during the 4th quarter valued at approximately $61,412,000. Invesco Ltd. grew its position in shares of Zurn Elkay Water Solutions by 26.8% during the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company’s stock valued at $219,335,000 after acquiring an additional 1,242,642 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Zurn Elkay Water Solutions by 58.6% during the 4th quarter. Ameriprise Financial Inc. now owns 985,576 shares of the company’s stock valued at $36,762,000 after acquiring an additional 364,142 shares during the period. 83.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions in a research note on Friday. Robert W. Baird dropped their price target on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, BNP Paribas cut shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.29.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 25,921 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $37.19, for a total value of $964,001.99. Following the sale, the vice president now directly owns 94,132 shares in the company, valued at $3,500,769.08. This represents a 21.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total transaction of $100,419.66. Following the completion of the sale, the chief financial officer now owns 60,772 shares in the company, valued at $2,255,248.92. This represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $37.37 on Tuesday. The stock has a market capitalization of $6.29 billion, a P/E ratio of 40.62, a PEG ratio of 2.01 and a beta of 1.02. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $32.92 and its 200 day moving average is $36.11. Zurn Elkay Water Solutions Co. has a 12 month low of $27.74 and a 12 month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. The business had revenue of $388.80 million for the quarter, compared to analysts’ expectations of $383.87 million. During the same period in the prior year, the company posted $0.29 EPS. On average, sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, May 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 36.36%.

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.