Insider Selling: Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Sells $1,279,500.00 in Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total value of $1,279,500.00. Following the completion of the sale, the director owned 266,864 shares in the company, valued at $13,658,099.52. The trade was a 8.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zurn Elkay Water Solutions Cor Stock Down 0.2%

Zurn Elkay Water Solutions Cor stock opened at $50.81 on Friday. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 2.11 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $53.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. The firm has a 50 day moving average price of $48.11 and a two-hundred day moving average price of $47.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping 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 business had revenue of $407.20 million during the quarter, compared to analysts’ expectations of $400.75 million. During the same quarter last year, the firm posted $0.32 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 38.26%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several institutional investors have recently made changes to their positions in ZWS. Alliancebernstein L.P. grew its position in shares of Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after purchasing an additional 3,184,048 shares in the last quarter. Norges Bank purchased a new position in Zurn Elkay Water Solutions Cor during the 4th quarter valued at about $111,341,000. First Trust Advisors LP increased its position 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. Impax Asset Management Group plc increased its position in shares of Zurn Elkay Water Solutions Cor by 22.8% during the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after buying an additional 916,850 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 78.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock worth $42,161,000 after buying an additional 399,180 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Robert W. Baird set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. The Goldman Sachs Group restated a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Jefferies Financial Group began coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective on the stock. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Finally, Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor 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.