Insider Selling: Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Sells 17,900 Shares of Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 17,900 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $50.44, for a total transaction of $902,876.00. Following the completion of the transaction, the director directly owned 288,964 shares of the company’s stock, valued at approximately $14,575,344.16. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS traded up $1.70 during mid-day trading on Friday, hitting $52.81. 1,843,700 shares of the company traded hands, compared to its average volume of 1,166,936. The company has a current ratio of 3.13, a quick ratio of 1.83 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 2.14 and a beta of 1.08. The business has a 50-day moving average of $47.15 and a 200 day moving average of $46.15. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $52.84.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $407.20 million during the quarter, compared to analysts’ expectations of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. Zurn Elkay Water Solutions Cor’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. As a group, equities analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 38.26%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds have recently bought and sold shares of ZWS. Advisory Services Network LLC bought a new position in shares of Zurn Elkay Water Solutions Cor during the third quarter worth $25,000. Whittier Trust Co. acquired a new stake in Zurn Elkay Water Solutions Cor during the 2nd quarter worth $26,000. First Horizon Advisors Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions Cor in the fourth quarter valued at about $26,000. Finally, Fifth Third Bancorp grew its stake in Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after acquiring an additional 256 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday. Jefferies Financial Group initiated coverage on shares of Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective on the stock. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Finally, Oppenheimer increased their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.63.

Zurn Elkay Water Solutions Cor Company Profile

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.