Timothy Jahnke Sells 10,539 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 10,539 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $47.51, for a total value of $500,707.89. Following the completion of the transaction, the director owned 169,461 shares in the company, valued at $8,051,092.11. The trade was a 5.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Zurn Elkay Water Solutions Cor Trading Up 0.3%

Shares of ZWS stock traded up $0.16 on Monday, reaching $47.62. 430,430 shares of the stock were exchanged, compared to its average volume of 983,562. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.72. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $50.03. The stock has a market cap of $7.97 billion, a PE ratio of 42.52, a P/E/G ratio of 2.57 and a beta of 1.12. The stock has a 50 day moving average price of $46.65 and a 200 day moving average price of $41.37.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $455.40 million during the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. Equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm 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 $0.11 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. 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 39.29%.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several hedge funds and other institutional investors have recently modified their holdings of ZWS. First Horizon Advisors Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% in the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. Whittier Trust Co. acquired a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at approximately $26,000. Fifth Third Bancorp lifted its stake in Zurn Elkay Water Solutions Cor by 49.7% in the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after acquiring an additional 256 shares in the last quarter. First Horizon Corp acquired a new position in Zurn Elkay Water Solutions Cor during the 3rd quarter worth approximately $45,000. Finally, Covestor Ltd grew its stake in shares of Zurn Elkay Water Solutions Cor by 180.3% during the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock worth $46,000 after acquiring an additional 622 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 analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, October 8th. Oppenheimer set a $53.00 target price on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research note on Friday, October 31st. Mizuho set a $49.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Finally, Stifel Nicolaus boosted their price objective 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, September 12th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.