Timothy J. Jahnke Sells 9,857 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy J. Jahnke sold 9,857 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total value of $444,156.42. Following the completion of the transaction, the director directly owned 328,964 shares in the company, valued at approximately $14,823,117.84. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Zurn Elkay Water Solutions Cor Trading Down 1.6%

Shares of ZWS stock opened at $44.66 on Friday. The company has a market cap of $7.48 billion, a P/E ratio of 44.22, a PEG ratio of 2.44 and a beta of 1.03. The stock has a 50 day simple moving average of $38.87 and a two-hundred day simple moving average of $35.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $45.90.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. Research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.64%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Archer Investment Corp increased its holdings in shares of Zurn Elkay Water Solutions Cor by 10.0% during the second quarter. Archer Investment Corp now owns 3,300 shares of the company’s stock valued at $121,000 after acquiring an additional 300 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Zurn Elkay Water Solutions Cor by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 9,777 shares of the company’s stock valued at $322,000 after acquiring an additional 336 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Zurn Elkay Water Solutions Cor by 12.5% during the second quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock valued at $112,000 after acquiring an additional 339 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Zurn Elkay Water Solutions Cor by 0.3% during the second quarter. California State Teachers Retirement System now owns 134,647 shares of the company’s stock valued at $4,924,000 after acquiring an additional 353 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in Zurn Elkay Water Solutions Cor by 0.7% during the second quarter. Yousif Capital Management LLC now owns 53,654 shares of the company’s stock worth $1,962,000 after buying an additional 354 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZWS. Mizuho set a $36.00 target price on Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, Robert W. Baird lowered their target price on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.00.

About Zurn Elkay Water Solutions Cor

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.