Michael Troutman Sells 35,082 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) insider Michael Troutman sold 35,082 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $29.75, for a total transaction of $1,043,689.50. Following the transaction, the insider now directly owns 32,008 shares in the company, valued at approximately $952,238. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE:ZWS traded down $0.84 on Monday, hitting $29.46. The stock had a trading volume of 1,492,325 shares, compared to its average volume of 1,351,652. Zurn Elkay Water Solutions Co. has a twelve month low of $19.29 and a twelve month high of $30.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.90 and a current ratio of 3.14. The firm’s 50 day moving average price is $27.52 and its 200-day moving average price is $26.84. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 46.62, a price-to-earnings-growth ratio of 2.20 and a beta of 1.28.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, October 31st. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Zurn Elkay Water Solutions had a net margin of 7.46% and a return on equity of 9.65%. The company had revenue of $398.40 million for the quarter, compared to the consensus estimate of $396.38 million. During the same quarter in the previous year, the company earned $0.26 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities research analysts predict that Zurn Elkay Water Solutions Co. will post 0.95 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Monday, November 20th will be given a dividend of $0.08 per share. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.32 annualized dividend and a yield of 1.09%. Zurn Elkay Water Solutions’s dividend payout ratio is 49.23%.

Analyst Ratings Changes

ZWS has been the topic of several analyst reports. The Goldman Sachs Group lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the company from $31.00 to $29.00 in a report on Monday, October 9th. Robert W. Baird boosted their price target on shares of Zurn Elkay Water Solutions from $23.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, July 25th. Mizuho boosted their price target on shares of Zurn Elkay Water Solutions from $26.00 to $34.00 in a report on Wednesday, July 26th. Oppenheimer reissued an “outperform” rating and issued a $33.00 price target on shares of Zurn Elkay Water Solutions in a report on Monday, October 2nd. Finally, TheStreet lowered shares of Zurn Elkay Water Solutions from a “b” rating to a “c+” rating in a report on Tuesday, October 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZWS. JPMorgan Chase & Co. lifted its position in Zurn Elkay Water Solutions by 3.1% during the 1st quarter. JPMorgan Chase & Co. now owns 166,538 shares of the company’s stock worth $5,895,000 after buying an additional 5,067 shares in the last quarter. Raymond James & Associates raised its holdings in Zurn Elkay Water Solutions by 56.7% during the 1st quarter. Raymond James & Associates now owns 56,374 shares of the company’s stock worth $1,996,000 after purchasing an additional 20,393 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 48.2% during the 1st quarter. MetLife Investment Management LLC now owns 63,174 shares of the company’s stock worth $2,236,000 after purchasing an additional 20,555 shares during the last quarter. APG Asset Management N.V. bought a new stake in Zurn Elkay Water Solutions during the 1st quarter worth about $1,094,000. Finally, Synovus Financial Corp raised its holdings in Zurn Elkay Water Solutions by 9.7% during the 1st quarter. Synovus Financial Corp now owns 26,225 shares of the company’s stock worth $934,000 after purchasing an additional 2,318 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

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, including interceptors, water control and backflow, fire protection, PEX pipings and tubings, valves, fittings, and installation tools under the Zurn and Wilkis brand names.