Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Timothy J. Jahnke Sells 10,035 Shares

Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Timothy J. Jahnke sold 10,035 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total value of $351,225.00. Following the completion of the sale, the director now owns 374,982 shares in the company, valued at $13,124,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Zurn Elkay Water Solutions Trading Down 0.5 %

Shares of ZWS stock opened at $34.82 on Friday. The firm’s 50-day simple moving average is $31.65 and its 200-day simple moving average is $31.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. Zurn Elkay Water Solutions Co. has a 1-year low of $25.09 and a 1-year high of $35.18. The firm has a market cap of $6.01 billion, a P/E ratio of 49.04, a PEG ratio of 1.80 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The company had revenue of $412.00 million for the quarter, compared to the consensus estimate of $409.14 million. During the same quarter last year, the firm posted $0.24 earnings per share. Zurn Elkay Water Solutions’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of large investors have recently modified their holdings of ZWS. Tortoise Investment Management LLC raised its stake in shares of Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after acquiring an additional 373 shares during the period. MJP Associates Inc. ADV raised its position in Zurn Elkay Water Solutions by 5.5% in the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock valued at $300,000 after purchasing an additional 534 shares during the period. Quarry LP lifted its stake in shares of Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after purchasing an additional 536 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Zurn Elkay Water Solutions by 1.4% in the second quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock worth $1,203,000 after buying an additional 561 shares during the period. Finally, Everpar Advisors LLC boosted its position in shares of Zurn Elkay Water Solutions by 4.5% in the second quarter. Everpar Advisors LLC now owns 14,731 shares of the company’s stock worth $433,000 after buying an additional 631 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ZWS. Deutsche Bank Aktiengesellschaft upped their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average price target of $35.17.

About Zurn Elkay Water Solutions

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.