Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy J. Jahnke Sells 9,857 Shares

Key Points

• Director Timothy J. Jahnke sold 9,857 shares of Zurn Elkay Water Solutions Cor at an average price of $45.06, totaling approximately $444,156.42, reducing his ownership by 2.91%.
• The company reported $0.42 earnings per share for the last quarter, surpassing the consensus estimate of $0.36, with a revenue increase of 7.9% year-over-year.
• Zurn Elkay Water Solutions Cor has declared a quarterly dividend of $0.09, resulting in an annualized yield of 0.8%, with a payout ratio of 35.64%.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) Director Timothy J. Jahnke sold 9,857 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total value of $444,156.42. Following the transaction, the director directly owned 328,964 shares in the company, valued at $14,823,117.84. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS stock traded down $0.44 on Thursday, hitting $45.41. 888,518 shares of the company's stock were exchanged, compared to its average volume of 1,005,499. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $45.90. The stock has a market cap of $7.61 billion, a P/E ratio of 44.96, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. The company has a 50 day moving average of $38.53 and a 200 day moving average of $35.89.

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 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company earned $0.33 EPS. Zurn Elkay Water Solutions Cor's revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th will be paid a $0.09 dividend. 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 dividend payout ratio is presently 35.64%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the first quarter valued at about $265,000. Y Intercept Hong Kong Ltd bought a new position in Zurn Elkay Water Solutions Cor in the first quarter worth approximately $448,000. GAMMA Investing LLC boosted its holdings in Zurn Elkay Water Solutions Cor by 3,250.8% in the first quarter. GAMMA Investing LLC now owns 31,397 shares of the company's stock worth $952,000 after acquiring an additional 30,460 shares in the last quarter. Perpetual Ltd boosted its holdings in Zurn Elkay Water Solutions Cor by 23.4% in the first quarter. Perpetual Ltd now owns 264,396 shares of the company's stock worth $8,720,000 after acquiring an additional 50,207 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $876,000. Institutional investors and hedge funds own 83.33% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on ZWS. Robert W. Baird lowered their price target on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Mizuho set a $36.00 price target on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Finally, Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $38.00.

Zurn Elkay Water Solutions Cor 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.

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