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 sale, the director owned 169,461 shares in the company, valued at $8,051,092.11. The trade was a 5.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Zurn Elkay Water Solutions Cor Trading Up 0.9%

Shares of ZWS opened at $48.05 on Wednesday. The company’s fifty day simple moving average is $46.76 and its 200-day simple moving average is $41.57. The company has a market cap of $8.04 billion, a P/E ratio of 42.90, a P/E/G ratio of 2.57 and a beta of 1.12. The company has a current ratio of 2.78, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $50.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results 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 analysts’ expectations of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. As a group, analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Thursday, November 20th will be paid a dividend of $0.11 per share. This is a positive change 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 39.29%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. purchased a new position in Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $265,000. Axxcess Wealth Management LLC boosted its position in Zurn Elkay Water Solutions Cor by 3.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 9,461 shares of the company’s stock valued at $312,000 after acquiring an additional 358 shares in the last quarter. Xponance Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 5.2% in the 1st quarter. Xponance Inc. now owns 12,142 shares of the company’s stock valued at $400,000 after acquiring an additional 595 shares during the period. New York State Common Retirement Fund raised its position in shares of Zurn Elkay Water Solutions Cor by 1.4% in the 1st quarter. New York State Common Retirement Fund now owns 45,690 shares of the company’s stock worth $1,507,000 after acquiring an additional 641 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 3.2% during the 1st quarter. Bleakley Financial Group LLC now owns 22,376 shares of the company’s stock worth $738,000 after purchasing an additional 686 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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.