Timothy J. Jahnke Sells 15,600 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Timothy J. Jahnke sold 15,600 shares of Zurn Elkay Water Solutions stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the sale, the director now directly owns 385,017 shares in the company, valued at approximately $12,717,111.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Zurn Elkay Water Solutions Stock Performance

ZWS opened at $32.48 on Friday. The stock’s 50 day simple moving average is $31.10 and its 200 day simple moving average is $31.38. The stock has a market cap of $5.55 billion, a P/E ratio of 45.75, a P/E/G ratio of 1.60 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 1-year low of $25.09 and a 1-year high of $34.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $412.00 million during the quarter, compared to analysts’ expectations of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. As a group, equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s payout ratio is currently 45.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ZWS shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Zurn Elkay Water Solutions in a report on Thursday. Finally, Stifel Nicolaus raised their target price on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.17.

Institutional Trading of Zurn Elkay Water Solutions

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Zurn Elkay Water Solutions by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock worth $404,041,000 after purchasing an additional 131,683 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 2.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock valued at $386,286,000 after acquiring an additional 265,857 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Zurn Elkay Water Solutions by 1.8% during the fourth quarter. Brown Advisory Inc. now owns 2,797,537 shares of the company’s stock valued at $82,276,000 after acquiring an additional 48,695 shares during the last quarter. Wells Fargo & Company MN increased its position in Zurn Elkay Water Solutions by 2,110.7% during the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock worth $67,968,000 after purchasing an additional 2,206,508 shares in the last quarter. Finally, Crescent Grove Advisors LLC raised its stake in Zurn Elkay Water Solutions by 8.4% in the 1st quarter. Crescent Grove Advisors LLC now owns 2,304,715 shares of the company’s stock valued at $77,139,000 after purchasing an additional 178,861 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

About Zurn Elkay Water Solutions

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.