Principal Financial Group Inc. Has $91.34 Million Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Principal Financial Group Inc. reduced its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,448,734 shares of the company’s stock after selling 171,219 shares during the quarter. Principal Financial Group Inc. owned about 1.44% of Zurn Elkay Water Solutions worth $91,338,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZWS. Creative Planning grew its position in shares of Zurn Elkay Water Solutions by 95.7% in the third quarter. Creative Planning now owns 29,553 shares of the company’s stock valued at $1,062,000 after purchasing an additional 14,452 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of 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 valued at $750,000 after purchasing an additional 269 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the third quarter valued at about $36,000. Raymond James & Associates grew its position in shares of Zurn Elkay Water Solutions by 4.5% in the third quarter. Raymond James & Associates now owns 1,433,580 shares of the company’s stock valued at $51,523,000 after purchasing an additional 61,748 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Zurn Elkay Water Solutions in the third quarter valued at about $307,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ZWS shares. 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 research report on Tuesday, October 22nd. Robert W. Baird increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their target price on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Finally, Mizuho increased their target price 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Zurn Elkay Water Solutions Stock Up 1.0 %

Shares of ZWS opened at $35.82 on Wednesday. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 38.93, a P/E/G ratio of 1.78 and a beta of 1.15. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 12 month low of $28.25 and a 12 month high of $41.15. The company has a 50-day moving average price of $37.95 and a two-hundred day moving average price of $36.28.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.01%. Equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.35 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is 39.13%.

Insider Transactions at Zurn Elkay Water Solutions

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.80% of the company’s stock.

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.