Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Sells $354,397.50 in Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 7,461 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $47.50, for a total transaction of $354,397.50. Following the transaction, the director owned 162,000 shares of the company’s stock, valued at $7,695,000. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS traded up $0.16 during trading on Monday, hitting $47.62. The company had a trading volume of 430,430 shares, compared to its average volume of 983,562. The stock has a fifty day simple moving average of $46.65 and a two-hundred day simple moving average of $41.37. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $50.03. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 42.52, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12. The company has a quick ratio of 1.72, a current ratio of 2.78 and a debt-to-equity ratio of 0.31.

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

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, November 20th. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 39.29%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ZWS shares. Mizuho set a $49.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Oppenheimer set a $53.00 target price on shares of Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research report on Friday, October 31st. Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor currently has a consensus rating of “Hold” and an average price target of $42.83.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several institutional investors have recently made changes to their positions in ZWS. Norges Bank acquired a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $64,266,000. Zimmer Partners LP purchased a new stake in Zurn Elkay Water Solutions Cor in the first quarter valued at $50,344,000. Impax Asset Management Group plc lifted its stake in shares of Zurn Elkay Water Solutions Cor by 22.8% in the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after purchasing an additional 916,850 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 74.1% during the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company’s stock worth $56,577,000 after purchasing an additional 729,920 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth about $21,273,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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.