Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Sells $351,225.00 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Timothy J. Jahnke sold 10,035 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total value of $351,225.00. Following the transaction, the director now directly owns 374,982 shares in the company, valued at approximately $13,124,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE:ZWS opened at $34.84 on Monday. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 49.07, a P/E/G ratio of 1.80 and a beta of 1.14. The firm’s 50 day simple moving average is $31.65 and its 200 day simple moving average is $31.48. 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 fifty-two week low of $25.09 and a fifty-two week high of $35.18.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping 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 company had revenue of $412.00 million for the quarter, compared to analysts’ expectations of $409.14 million. During the same period last year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were paid a $0.08 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Four investment 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.com, the company currently has a consensus rating of “Hold” and an average price target of $35.17.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of hedge funds have recently modified their holdings of the business. Tortoise Investment Management LLC grew its position in shares of Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after purchasing an additional 373 shares during the period. Quarry LP lifted its stake in Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Zurn Elkay Water Solutions in the second quarter valued at approximately $29,000. Principal Securities Inc. bought a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth $34,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of 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 worth $42,000 after acquiring an additional 1,267 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.