Key Points
- Insider sale: Director Timothy Jahnke sold 25,000 shares on Feb. 17 at an average of $51.18 for $1,279,500, leaving him with 266,864 shares (an 8.57% reduction in his stake).
- Earnings beat: Zurn Elkay reported $0.36 EPS vs. $0.34 expected and revenue of $407.2M (up 9.8% year-over-year), with analysts forecasting about $1.36 EPS for the fiscal year.
- Dividend and market snapshot: The company declared a $0.11 quarterly dividend (annualized $0.44, yield ~0.9%, payable Mar. 6), and the stock trades near $50.69 with a consensus analyst rating of "Hold" and an average target of $51.63.
Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) VP Jeffrey Lavalle sold 447 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $50.86, for a total value of $22,734.42. Following the completion of the transaction, the vice president directly owned 51,421 shares of the company's stock, valued at approximately $2,615,272.06. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Zurn Elkay Water Solutions Cor Stock Down 0.8%
ZWS traded down $0.39 during trading on Friday, hitting $50.52. The company had a trading volume of 223,121 shares, compared to its average volume of 1,093,958. The company has a market capitalization of $8.43 billion, a PE ratio of 43.90, a PEG ratio of 2.12 and a beta of 1.08. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $53.17. The firm's 50-day moving average price is $48.04 and its 200 day moving average price is $46.97.
Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The company had revenue of $407.20 million during the quarter, compared to analysts' expectations of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. As a group, equities analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.
Zurn Elkay Water Solutions Cor Announces Dividend
The firm also recently declared 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is 38.26%.
Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor
A number of hedge funds have recently made changes to their positions in ZWS. Invesco Ltd. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company's stock valued at $279,571,000 after acquiring an additional 201,299 shares during the last quarter. State Street Corp raised its position in Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company's stock valued at $196,806,000 after purchasing an additional 30,483 shares during the last quarter. Impax Asset Management Group plc raised its position in Zurn Elkay Water Solutions Cor by 22.8% in the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company's stock valued at $180,408,000 after purchasing an additional 916,850 shares during the last quarter. Beck Mack & Oliver LLC boosted its stake in shares of Zurn Elkay Water Solutions Cor by 3.7% during the second quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company's stock valued at $135,541,000 after purchasing an additional 133,478 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Zurn Elkay Water Solutions Cor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company's stock worth $164,716,000 after purchasing an additional 15,232 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have weighed in on ZWS. Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Zacks Research lowered Zurn Elkay Water Solutions Cor from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 29th. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Royal Bank Of Canada upped their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a "sector perform" rating in a report on Thursday, February 5th. Finally, Robert W. Baird set a $56.00 target price on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $51.63.
View Our Latest Stock Analysis on ZWS
Zurn Elkay Water Solutions Cor Company Profile
(
Get Free Report)
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.
Further Reading
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