Zurn Elkay Water Solutions Co. (NYSE:ZWS) Insider Michael Troutman Sells 35,082 Shares

Zurn Elkay Water Solutions Co. (NYSE:ZWS) insider Michael Troutman sold 35,082 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $29.75, for a total value of $1,043,689.50. Following the transaction, the insider now directly owns 32,008 shares of the company’s stock, valued at $952,238. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Zurn Elkay Water Solutions Price Performance

ZWS opened at $29.46 on Tuesday. The stock has a fifty day moving average of $27.53 and a 200-day moving average of $26.90. The firm has a market capitalization of $5.09 billion, a P/E ratio of 45.32, a PEG ratio of 2.20 and a beta of 1.28. Zurn Elkay Water Solutions Co. has a 12-month low of $19.29 and a 12-month high of $30.87. The company has a quick ratio of 1.90, a current ratio of 3.14 and a debt-to-equity ratio of 0.34.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 31st. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $398.40 million during the quarter, compared to analyst estimates of $396.38 million. Zurn Elkay Water Solutions had a return on equity of 9.65% and a net margin of 7.46%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. Equities analysts forecast that Zurn Elkay Water Solutions Co. will post 0.95 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Monday, November 20th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, November 17th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 49.23%.

Institutional Trading of Zurn Elkay Water Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Moody National Bank Trust Division raised its holdings in shares of Zurn Elkay Water Solutions by 2.8% during the second quarter. Moody National Bank Trust Division now owns 17,325 shares of the company’s stock worth $466,000 after acquiring an additional 470 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Zurn Elkay Water Solutions by 50.0% during the second quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock worth $97,000 after acquiring an additional 500 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Zurn Elkay Water Solutions by 1.5% during the fourth quarter. Gabelli Funds LLC now owns 33,600 shares of the company’s stock worth $711,000 after acquiring an additional 500 shares in the last quarter. FMR LLC raised its holdings in shares of Zurn Elkay Water Solutions by 7.3% during the third quarter. FMR LLC now owns 8,153 shares of the company’s stock worth $228,000 after acquiring an additional 558 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its holdings in shares of Zurn Elkay Water Solutions by 3.5% during the first quarter. Moneta Group Investment Advisors LLC now owns 19,623 shares of the company’s stock worth $419,000 after acquiring an additional 660 shares in the last quarter. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird increased their price target on Zurn Elkay Water Solutions from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, July 25th. Mizuho raised their price objective on Zurn Elkay Water Solutions from $26.00 to $34.00 in a research note on Wednesday, July 26th. TheStreet lowered Zurn Elkay Water Solutions from a “b” rating to a “c+” rating in a research note on Tuesday, October 3rd. The Goldman Sachs Group lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $31.00 to $29.00 in a research note on Monday, October 9th. Finally, Oppenheimer reissued an “outperform” rating and set a $33.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $31.14.

Zurn Elkay Water Solutions 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, including interceptors, water control and backflow, fire protection, PEX pipings and tubings, valves, fittings, and installation tools under the Zurn and Wilkis brand names.