Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Sells 10,035 Shares of Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Timothy J. Jahnke sold 10,035 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was 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 of the company’s stock, valued at approximately $13,124,370. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $34.84 on Monday. The company has a fifty day moving average price of $31.65 and a two-hundred day moving average price of $31.48. Zurn Elkay Water Solutions Co. has a one year low of $25.09 and a one year high of $35.18. The stock has a market cap of $6.02 billion, a P/E ratio of 49.07, a P/E/G ratio of 1.80 and a beta of 1.14. 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 (NYSE:ZWS) last issued its earnings results 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. The business had revenue of $412.00 million during the quarter, compared to the consensus estimate 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 was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. As a group, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s payout ratio is presently 45.07%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its holdings in shares of Zurn Elkay Water Solutions by 2,110.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after purchasing an additional 2,206,508 shares during the last quarter. Norges Bank bought a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth about $39,532,000. Jennison Associates LLC grew its stake in Zurn Elkay Water Solutions by 68.6% in the 1st quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock valued at $42,684,000 after buying an additional 518,733 shares during the last quarter. Stifel Financial Corp raised its holdings in Zurn Elkay Water Solutions by 3,236.0% in the 4th quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock valued at $14,889,000 after acquiring an additional 491,093 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Zurn Elkay Water Solutions by 37.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after acquiring an additional 465,701 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Oppenheimer reissued an “outperform” rating and set a $37.00 price target on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.17.

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.