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 business’s stock in a transaction on Wednesday, October 16th. The shares were 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 represents a 0.00 % 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 Price Performance

Shares of ZWS stock traded down $0.23 on Thursday, reaching $37.28. 918,878 shares of the company were exchanged, compared to its average volume of 1,116,106. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 53.06, a P/E/G ratio of 1.93 and a beta of 1.14. The business has a 50-day moving average price of $33.35 and a 200 day moving average price of $31.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.75 and a current ratio of 2.84. Zurn Elkay Water Solutions Co. has a 1 year low of $25.09 and a 1 year high of $38.11.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $409.14 million. During the same quarter in the prior year, the company earned $0.24 EPS. Zurn Elkay Water Solutions’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were given 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 was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of ZWS. Bleakley Financial Group LLC boosted its position in shares of Zurn Elkay Water Solutions by 1.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock valued at $750,000 after purchasing an additional 269 shares during the period. Tortoise Investment Management LLC boosted 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. MJP Associates Inc. ADV lifted its position in Zurn Elkay Water Solutions by 5.5% during the 2nd quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock worth $300,000 after acquiring an additional 534 shares during the period. Quarry LP lifted its position in Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after acquiring an additional 536 shares during the period. Finally, Arizona State Retirement System lifted its position in Zurn Elkay Water Solutions by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock worth $1,203,000 after acquiring an additional 561 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ZWS shares. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.80.

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.