Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Sells $751,800.00 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Timothy J. Jahnke sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the sale, the director now directly owns 345,017 shares of the company’s stock, valued at approximately $12,969,189.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Zurn Elkay Water Solutions Trading Up 0.3 %

NYSE:ZWS opened at $37.40 on Friday. The stock has a market cap of $6.46 billion, a PE ratio of 52.68, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a fifty-two week low of $25.09 and a fifty-two week high of $38.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. The stock’s 50-day moving average is $33.63 and its two-hundred day moving average is $32.02.

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

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.86%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP lifted its holdings in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after acquiring an additional 373 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Zurn Elkay Water Solutions in the second quarter worth $29,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions during the third quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after buying an additional 1,267 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ZWS shares. Oppenheimer reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Zurn Elkay Water Solutions 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.