Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) Director Timothy J. Jahnke sold 10,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $42.59, for a total value of $425,900.00. Following the transaction, the director directly owned 338,964 shares of the company's stock, valued at approximately $14,436,476.76. This represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Zurn Elkay Water Solutions Cor Price Performance
ZWS stock traded up $0.62 during trading on Friday, hitting $44.87. The stock had a trading volume of 2,710,488 shares, compared to its average volume of 1,164,150. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.68 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $44.98. The company's 50 day moving average price is $37.00 and its two-hundred day moving average price is $35.50.
Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%. The business had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.
Zurn Elkay Water Solutions Cor Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is 35.64%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on ZWS shares. BNP Paribas cut Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 price target for the company. in a research report on Wednesday, April 9th. Robert W. Baird cut their target price on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of "Hold" and an average target price of $37.86.
Get Our Latest Stock Report on Zurn Elkay Water Solutions Cor
Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor
Hedge funds have recently made changes to their positions in the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Zurn Elkay Water Solutions Cor by 32.6% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,786 shares of the company's stock worth $943,000 after purchasing an additional 6,338 shares during the period. Peregrine Capital Management LLC grew its holdings in shares of Zurn Elkay Water Solutions Cor by 1.7% during the 2nd quarter. Peregrine Capital Management LLC now owns 282,715 shares of the company's stock worth $10,339,000 after purchasing an additional 4,692 shares during the period. MQS Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth about $275,000. Whittier Trust Co. purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth about $26,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $380,000. Institutional investors and hedge funds own 83.33% of the company's stock.
Zurn Elkay Water Solutions Cor Company Profile
(
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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.
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