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Timothy J. Jahnke Sells 20,000 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor logo with Business Services background

Key Points

  • Timothy J. Jahnke, a director at Zurn Elkay Water Solutions Cor, sold 20,000 shares of the company's stock at an average price of $43.73, reducing his holdings by 10% to 180,000 shares.
  • Zurn Elkay Water Solutions Cor reported a net margin of 10.78% and revenues of $444.50 million for the last quarter, exceeding analysts' expectations by $19.95 million.
  • The company announced a quarterly dividend of $0.09 per share, with an upcoming ex-dividend date on August 20th, reflecting an annualized yield of 0.8%.
  • Interested in Zurn Elkay Water Solutions Cor? Here are five stocks we like better.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $43.73, for a total transaction of $874,600.00. Following the sale, the director directly owned 180,000 shares in the company, valued at $7,871,400. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Zurn Elkay Water Solutions Cor Trading Up 1.4%

Shares of ZWS stock traded up $0.62 during trading hours on Friday, hitting $44.87. 2,710,488 shares of the company were exchanged, compared to its average volume of 1,164,150. The firm has a market cap of $7.52 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.68 and a beta of 1.03. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $44.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. The company has a 50 day simple moving average of $37.00 and a two-hundred day simple moving average of $35.50.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The company had revenue of $444.50 million for the quarter, compared to the consensus estimate of $424.55 million. During the same period in the previous year, the firm earned $0.33 EPS. The firm's quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor's payout ratio is presently 35.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ZWS shares. BNP Paribas lowered shares of Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 price target on the stock. in a report on Wednesday, April 9th. Robert W. Baird decreased their price objective on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Four investment 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.com, the company currently has a consensus rating of "Hold" and an average target price of $37.86.

Read Our Latest Analysis on ZWS

Institutional Trading of Zurn Elkay Water Solutions Cor

Hedge funds have recently bought and sold shares of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Zurn Elkay Water Solutions Cor by 32.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,786 shares of the company's stock valued at $943,000 after acquiring an additional 6,338 shares in the last quarter. Peregrine Capital Management LLC boosted its position in shares of Zurn Elkay Water Solutions Cor by 1.7% during the second quarter. Peregrine Capital Management LLC now owns 282,715 shares of the company's stock valued at $10,339,000 after buying an additional 4,692 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at $275,000. Whittier Trust Co. purchased a new position in Zurn Elkay Water Solutions Cor in the second quarter worth about $26,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Zurn Elkay Water Solutions Cor in the second quarter worth about $380,000. Institutional investors own 83.33% of the company's stock.

About Zurn Elkay Water Solutions Cor

(Get Free Report)

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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Insider Buying and Selling by Quarter for Zurn Elkay Water Solutions Cor (NYSE:ZWS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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