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

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 17,900 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $50.44, for a total transaction of $902,876.00. Following the transaction, the director owned 288,964 shares in the company, valued at approximately $14,575,344.16. This trade represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Zurn Elkay Water Solutions Cor Stock Up 3.3%

ZWS stock opened at $52.81 on Friday. The firm has a market cap of $8.84 billion, a PE ratio of 45.92, a PEG ratio of 2.11 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $52.84. The company has a fifty day simple moving average of $47.26 and a 200 day simple moving average of $46.25. The company has a current ratio of 3.13, a quick ratio of 1.83 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The company had revenue of $407.20 million for the quarter, compared to analyst estimates of $400.75 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis 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 (DPR) is presently 38.26%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ZWS. Oppenheimer lifted their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group began 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 target price on the stock. Royal Bank Of Canada boosted their target price on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday. Robert W. Baird set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday. Finally, Mizuho set a $49.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.63.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in Zurn Elkay Water Solutions Cor during the third quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 249.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares during the period. Whittier Trust Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $26,000. Finally, Fifth Third Bancorp increased its position in shares of Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.