Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) CEO Sells $4,779,600.00 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) CEO Todd A. Adams sold 120,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the sale, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Zurn Elkay Water Solutions Stock Performance

ZWS stock opened at $39.17 on Friday. The firm has a 50-day simple moving average of $35.33 and a two-hundred day simple moving average of $32.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $40.64. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 49.58, a PEG ratio of 2.02 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. On average, equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 40.51%.

Analyst Upgrades and Downgrades

ZWS has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Oppenheimer raised their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Mizuho boosted their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird upped their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of “Hold” and a consensus target price of $38.17.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Quarry LP boosted its position in Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in Zurn Elkay Water Solutions by 76.7% during 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. International Assets Investment Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions in the 2nd quarter valued at $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the third quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after purchasing an additional 1,267 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

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.