Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Jacques Donavon Butler Acquires 2,016 Shares

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Jacques Donavon Butler acquired 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the purchase, the director owned 37,487 shares in the company, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS opened at $49.10 on Friday. Zurn Elkay Water Solutions Cor has a twelve month low of $43.06 and a twelve month high of $55.00. The firm has a fifty day simple moving average of $49.46 and a 200 day simple moving average of $48.83. The company has a market capitalization of $8.14 billion, a PE ratio of 30.31, a P/E/G ratio of 1.85 and a beta of 1.04. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The business had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 27.16%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Hedge funds have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth $2,870,000. WINTON GROUP Ltd bought a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter valued at $6,305,000. SG Americas Securities LLC increased its stake in Zurn Elkay Water Solutions Cor by 53.5% during the 1st quarter. SG Americas Securities LLC now owns 45,125 shares of the company’s stock valued at $2,023,000 after purchasing an additional 15,735 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Zurn Elkay Water Solutions Cor by 15.0% during the first quarter. Illinois Municipal Retirement Fund now owns 114,668 shares of the company’s stock worth $5,142,000 after buying an additional 14,958 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at $3,779,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ZWS. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Royal Bank Of Canada boosted their price target on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Barclays increased their price target on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Robert W. Baird set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, July 30th. Finally, Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and a consensus price target of $57.22.

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.