Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Jacques Donavon Butler Buys 2,016 Shares of Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Jacques Donavon Butler purchased 2,016 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $49.60 per share, with a total value of $99,993.60. Following the completion of the acquisition, the director directly owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. This trade represents a 5.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE:ZWS traded up $0.28 during midday trading on Friday, hitting $49.10. The company’s stock had a trading volume of 623,113 shares, compared to its average volume of 1,027,279. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05. The stock’s 50 day simple moving average is $49.45 and its 200 day simple moving average is $48.83. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 1.88 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 27.16%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC bought a new stake in Zurn Elkay Water Solutions Cor in the first quarter valued at about $277,000. Woodline Partners LP bought a new position in Zurn Elkay Water Solutions Cor during the first quarter worth about $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Zurn Elkay Water Solutions Cor by 5.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company’s stock valued at $16,127,000 after purchasing an additional 24,348 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Zurn Elkay Water Solutions Cor by 3.8% in the 2nd quarter. American Century Companies Inc. now owns 48,161 shares of the company’s stock valued at $1,761,000 after purchasing an additional 1,768 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Zurn Elkay Water Solutions Cor by 4.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 18,042 shares of the company’s stock valued at $660,000 after purchasing an additional 718 shares during the period. 83.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ZWS shares. Royal Bank Of Canada boosted their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. UBS Group set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Robert W. Baird set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and a consensus price target of $57.22.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.