Timothy Jahnke Sells 17,844 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 17,844 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $47.55, for a total transaction of $848,482.20. Following the completion of the transaction, the director owned 311,120 shares of the company’s stock, valued at $14,793,756. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Zurn Elkay Water Solutions Cor Stock Down 1.3%

Zurn Elkay Water Solutions Cor stock opened at $46.66 on Friday. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $47.71. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 46.20, a P/E/G ratio of 2.54 and a beta of 1.07. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The firm has a 50 day simple moving average of $42.65 and a 200 day simple moving average of $37.19.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $424.55 million. During the same period last year, the firm earned $0.33 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 35.64%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus raised their price target on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.50.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several institutional investors and hedge funds have recently made changes to their positions in ZWS. Norges Bank purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter valued at $64,266,000. Zimmer Partners LP purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter valued at $50,344,000. Impax Asset Management Group plc raised its position in shares of Zurn Elkay Water Solutions Cor by 22.8% during the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after buying an additional 916,850 shares in the last quarter. Ameriprise Financial Inc. raised its position in 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 worth $56,577,000 after purchasing an additional 729,920 shares during the period. Finally, Nuveen LLC purchased a new position in Zurn Elkay Water Solutions Cor in the 1st quarter worth $21,273,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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.