Insider Selling: Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Sells $500,707.89 in Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 10,539 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $47.51, for a total value of $500,707.89. Following the sale, the director owned 169,461 shares of the company’s stock, valued at $8,051,092.11. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Zurn Elkay Water Solutions Cor Trading Down 1.3%

NYSE:ZWS opened at $47.46 on Thursday. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 42.38, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $50.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.78. The business’s 50-day simple moving average is $46.81 and its 200 day simple moving average is $41.61.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $455.40 million for the quarter, compared to the consensus estimate of $442.62 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. As a group, sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Thursday, November 20th will be paid a dividend of $0.11 per share. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 39.29%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $26,000. First Horizon Advisors Inc. grew its stake in Zurn Elkay Water Solutions Cor by 249.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after buying an additional 502 shares during the last quarter. Fifth Third Bancorp increased its position in Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after buying an additional 256 shares during the period. First Horizon Corp acquired a new stake in Zurn Elkay Water Solutions Cor in the third quarter worth $45,000. Finally, Covestor Ltd lifted its stake in Zurn Elkay Water Solutions Cor by 180.3% in the third quarter. Covestor Ltd now owns 967 shares of the company’s stock valued at $46,000 after buying an additional 622 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZWS. Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, October 8th. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Oppenheimer set a $53.00 target price on Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, September 12th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $42.83.

Zurn Elkay Water Solutions Cor 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.