Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Sells $902,876.00 in Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 17,900 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $50.44, for a total value of $902,876.00. Following the sale, the director owned 288,964 shares of the company’s stock, valued at $14,575,344.16. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Zurn Elkay Water Solutions Cor Trading Up 3.3%

Shares of ZWS stock opened at $52.81 on Monday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $52.84. 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 stock’s fifty day moving average is $47.26 and its two-hundred day moving average is $46.38. The firm has a market capitalization of $8.84 billion, a P/E ratio of 45.92, a PEG ratio of 2.20 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business 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%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. Research 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders 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 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 38.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ZWS shares. Robert W. Baird set a $56.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday. Oppenheimer upped their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Jefferies Financial Group initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They set a “buy” rating and a $58.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.63.

Institutional Trading of Zurn Elkay Water Solutions Cor

A number of hedge funds and other institutional investors have recently modified their holdings of ZWS. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Zurn Elkay Water Solutions Cor in the 4th quarter valued at about $3,779,000. Handelsbanken Fonder AB increased its position in shares of Zurn Elkay Water Solutions Cor by 3.1% during the fourth quarter. Handelsbanken Fonder AB now owns 43,018 shares of the company’s stock valued at $2,000,000 after acquiring an additional 1,300 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 29,201 shares of the company’s stock valued at $1,358,000 after acquiring an additional 889 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 15.4% in the 4th quarter. HighTower Advisors LLC now owns 9,183 shares of the company’s stock worth $427,000 after acquiring an additional 1,228 shares during the last quarter. Finally, New York Life Investment Management LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $581,000. 83.33% of the stock is owned by institutional investors and hedge funds.

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.