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 shares were sold at an average price of $50.44, for a total value of $902,876.00. Following the completion of the sale, the director directly owned 288,964 shares of the company’s stock, valued at approximately $14,575,344.16. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $52.81 on Friday. The firm’s fifty day simple moving average is $47.26 and its 200-day simple moving average is $46.32. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.84 billion, a PE ratio of 45.92, a price-to-earnings-growth ratio of 2.18 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $52.84.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The firm had revenue of $407.20 million for the quarter, compared to the consensus estimate of $400.75 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. 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 Dividend Announcement

The company also recently disclosed 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 annualized dividend 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 presently 38.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Oppenheimer raised their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus set a $59.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Robert W. Baird set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor has an average rating of “Hold” and an average price target of $51.63.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

A number of institutional investors have recently modified their holdings of ZWS. Advisory Services Network LLC acquired a new stake in Zurn Elkay Water Solutions Cor during the third quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth $26,000. First Horizon Advisors Inc. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 249.8% during the 2nd 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 period. Whittier Trust Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter worth $26,000. Finally, Fifth Third Bancorp grew its position 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 purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.