Zurn Elkay Water Solutions Co. (NYSE:ZWS) VP Sells $1,720,300.05 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at $2,608,915.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Zurn Elkay Water Solutions Stock Up 1.2 %

Shares of NYSE ZWS opened at $32.87 on Friday. The stock has a 50 day moving average price of $31.18 and a 200 day moving average price of $31.39. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 1.73 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 52-week low of $25.09 and a 52-week high of $34.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.75 and a current ratio of 2.84.

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

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.97%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HighPoint Advisor Group LLC bought a new position in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $5,213,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at $1,511,000. Los Angeles Capital Management LLC purchased a new position in Zurn Elkay Water Solutions during the 1st quarter worth $1,004,000. Epoch Investment Partners Inc. acquired a new position in Zurn Elkay Water Solutions during the 1st quarter valued at about $7,674,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at about $5,855,000. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Company Profile

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.