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

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 17,900 shares of the firm’s 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 completion of the sale, the director owned 288,964 shares in the company, valued at $14,575,344.16. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS traded up $1.70 during trading hours on Friday, reaching $52.81. 1,843,700 shares of the company traded hands, compared to its average volume of 1,166,936. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.83 and a current ratio of 3.13. The stock’s fifty day moving average is $47.15 and its 200 day moving average is $46.15. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $52.84. The stock has a market cap of $8.84 billion, a P/E ratio of 45.92, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) 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 firm had revenue of $407.20 million for the quarter, compared to analyst estimates of $400.75 million. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate 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 company also recently announced 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 is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 38.26%.

Analysts Set New Price Targets

ZWS has been the topic of several analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday. Jefferies Financial Group started 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 target price on the stock. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday. Finally, Mizuho set a $49.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.63.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in Zurn Elkay Water Solutions Cor during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions Cor in the fourth quarter worth $26,000. First Horizon Advisors Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at $26,000. Finally, Fifth Third Bancorp raised its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after buying an additional 256 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions Cor

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.