Timothy J. Jahnke Sells 314 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) Director Timothy J. Jahnke sold 314 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $33.00, for a total transaction of $10,362.00. Following the transaction, the director now owns 593,485 shares of the company’s stock, valued at $19,585,005. The transaction was disclosed in a filing with the SEC, which is available through this link.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $31.95 on Friday. The stock’s 50 day moving average price is $32.20 and its two-hundred day moving average price is $30.82. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 45.00, a PEG ratio of 1.66 and a beta of 1.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. Zurn Elkay Water Solutions Co. has a 52-week low of $21.84 and a 52-week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The business had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. During the same period in the prior year, the firm earned $0.18 earnings per share. Zurn Elkay Water Solutions’s revenue was up .5% on a year-over-year basis. On average, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, May 20th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, May 17th. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ZWS shares. BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price objective for the company. Mizuho cut shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $33.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 145.1% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock valued at $202,037,000 after acquiring an additional 4,268,785 shares in the last quarter. Wells Fargo & Company MN increased its stake in Zurn Elkay Water Solutions by 2,110.7% during the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after purchasing an additional 2,206,508 shares in the last quarter. Norges Bank acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth $39,532,000. Raymond James & Associates lifted its stake in shares of Zurn Elkay Water Solutions by 1,622.8% in the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock valued at $36,592,000 after buying an additional 1,171,985 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Zurn Elkay Water Solutions by 68.6% during the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock valued at $42,684,000 after buying an additional 518,733 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

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.