Fort Washington Investment Advisors Inc. OH Cuts Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Fort Washington Investment Advisors Inc. OH cut its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,769 shares of the company’s stock after selling 190,484 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Zurn Elkay Water Solutions were worth $13,718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quarry LP boosted its position in shares of Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after acquiring an additional 536 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after purchasing an additional 544 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Zurn Elkay Water Solutions during the third quarter valued at about $36,000. Tsfg LLC bought a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth about $56,000. Finally, KBC Group NV lifted its position in shares of Zurn Elkay Water Solutions by 20.9% in the third quarter. KBC Group NV now owns 3,978 shares of the company’s stock worth $143,000 after buying an additional 688 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $38.89 on Thursday. The firm has a market capitalization of $6.60 billion, a PE ratio of 49.22, a price-to-earnings-growth ratio of 1.77 and a beta of 1.15. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15. The firm has a 50-day moving average price of $38.59 and a 200-day moving average price of $35.33. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $410.00 million during the quarter, compared to analyst estimates of $406.15 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Oppenheimer raised their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Mizuho upped their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird increased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.50.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Jeffrey J. Lavalle sold 3,132 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the transaction, the vice president now directly owns 35,422 shares in the company, valued at $1,386,771.30. This represents a 8.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd A. Adams sold 120,000 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the sale, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,202 shares of company stock valued at $5,061,558 in the last quarter. 3.80% of the stock is owned by insiders.

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.