Insider Selling: Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Sells 25,000 Shares of Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Timothy Jahnke sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 266,864 shares in the company, valued at approximately $13,658,099.52. The trade was a 8.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE:ZWS traded down $0.32 during trading on Thursday, hitting $50.89. The stock had a trading volume of 513,422 shares, compared to its average volume of 1,120,916. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $53.17. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 44.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.08. The stock has a 50-day simple moving average of $47.98 and a two-hundred day simple moving average of $46.94.

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. 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 quarter in the prior year, the firm earned $0.32 earnings per share. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities 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. Investors of record on Friday, February 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. 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 have weighed in on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Jefferies Financial Group began coverage on Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They set a “buy” rating and a $58.00 price target for the company. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.63.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZWS. Empowered Funds LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the first quarter valued at about $277,000. Woodline Partners LP acquired a new stake in Zurn Elkay Water Solutions Cor in the 1st quarter worth about $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Zurn Elkay Water Solutions Cor by 5.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company’s stock worth $16,127,000 after buying an additional 24,348 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 34.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,312 shares of the company’s stock valued at $304,000 after acquiring an additional 2,127 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 33.8% in the second quarter. CWM LLC now owns 1,799 shares of the company’s stock valued at $66,000 after acquiring an additional 454 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

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.