Insider Buying: Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Purchases $99,993.60 in Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Jacques Donavon Butler acquired 2,016 shares of the stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $49.60 per share, with a total value of $99,993.60. Following the completion of the purchase, the director directly owned 37,487 shares in the company, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $49.10 on Monday. The stock’s fifty day moving average is $49.46 and its 200 day moving average is $48.84. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The firm has a market capitalization of $8.14 billion, a PE ratio of 30.31, a PEG ratio of 1.85 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The company had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 27.16%.

Analysts Set New Price Targets

Several equities analysts recently commented on ZWS shares. Stifel Nicolaus upped their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Royal Bank Of Canada upped their target price on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Robert W. Baird set a $58.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. Finally, Barclays raised their price target on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.22.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

A number of institutional investors have recently modified their holdings of ZWS. BlackRock Inc. bought a new position in Zurn Elkay Water Solutions Cor in the second quarter worth approximately $1,241,345,000. Bank of America Corp DE purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter worth $278,160,000. Jupiter Topco LLC bought a new position in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth $172,287,000. Norges Bank bought a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth $111,341,000. Finally, First Trust Advisors LP increased its stake in shares of Zurn Elkay Water Solutions Cor by 51.9% during the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after buying an additional 1,128,917 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.