Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Sells 20,000 Shares of 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 stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now owns 345,017 shares of the company’s stock, valued at $12,969,189.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $37.40 on Friday. The stock has a market capitalization of $6.46 billion, a PE ratio of 52.68, a PEG ratio of 1.98 and a beta of 1.14. The business’s 50 day simple moving average is $33.63 and its 200 day simple moving average is $32.02. 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 Co. has a one year low of $25.09 and a one year high of $38.11.

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

Zurn Elkay Water Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

ZWS has been the subject of several research reports. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer reissued an “outperform” rating and set a $37.00 target price on shares of Zurn Elkay Water Solutions in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings 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 buying an additional 131,683 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Zurn Elkay Water Solutions by 2.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after acquiring an additional 265,857 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Zurn Elkay Water Solutions by 24.1% in the second quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock worth $51,485,000 after purchasing an additional 339,892 shares during the period. Dimensional Fund Advisors LP increased its stake in Zurn Elkay Water Solutions by 37.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after purchasing an additional 465,701 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Zurn Elkay Water Solutions by 4.5% during the third quarter. Raymond James & Associates now owns 1,433,580 shares of the company’s stock valued at $51,523,000 after purchasing an additional 61,748 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.