Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Sells $425,900.00 in Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy J. Jahnke sold 10,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $42.59, for a total transaction of $425,900.00. Following the completion of the transaction, the director directly owned 338,964 shares in the company, valued at approximately $14,436,476.76. This represents a 2.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Zurn Elkay Water Solutions Cor Trading Up 1.4%

Shares of ZWS stock opened at $44.87 on Friday. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $44.98. The firm’s fifty day simple moving average is $37.18 and its 200 day simple moving average is $35.54. The firm has a market capitalization of $7.52 billion, a P/E ratio of 44.43, a price-to-earnings-growth ratio of 2.72 and a beta of 1.03. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The firm had revenue of $444.50 million for the quarter, compared to the consensus estimate of $424.55 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.64%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

A number of institutional investors have recently bought and sold shares of the business. First Trust Advisors LP boosted its stake in shares of Zurn Elkay Water Solutions Cor by 184.0% in the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company’s stock valued at $132,661,000 after purchasing an additional 2,304,285 shares in the last quarter. Norges Bank acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at $61,412,000. Zimmer Partners LP acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at $50,344,000. Invesco Ltd. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 26.8% in the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company’s stock valued at $219,335,000 after purchasing an additional 1,242,642 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 74.1% in the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company’s stock valued at $56,577,000 after purchasing an additional 729,920 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ZWS. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. BNP Paribas lowered shares of Zurn Elkay Water Solutions Cor from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research report on Wednesday, April 9th. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Finally, Robert W. Baird dropped their price target on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor has a consensus rating of “Hold” and a consensus target price of $38.00.

About Zurn Elkay Water Solutions Cor

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.