Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Sells $134,878.86 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Timothy J. Jahnke sold 4,086 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total value of $134,878.86. Following the completion of the sale, the director now directly owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS opened at $30.51 on Monday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 42.97, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The company’s fifty day moving average is $30.56 and its 200-day moving average is $31.30. The company has a quick ratio of 1.95, a current ratio of 2.84 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 12 month low of $25.09 and a 12 month high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The firm had revenue of $412.00 million for the quarter, compared to the consensus estimate of $409.14 million. During the same period in the prior year, the business posted $0.24 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Tuesday, August 20th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.32 annualized dividend and a yield of 1.05%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.07%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZWS. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Oppenheimer raised their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.17.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC lifted its stake in shares of Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after buying an additional 373 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Zurn Elkay Water Solutions in the second quarter valued at approximately $29,000. Principal Securities Inc. acquired a new stake in Zurn Elkay Water Solutions in the 4th quarter worth $34,000. Benjamin Edwards Inc. acquired a new stake in Zurn Elkay Water Solutions during the fourth quarter worth about $42,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Zurn Elkay Water Solutions by 732.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after purchasing an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions

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.