Jacques Donavon Butler Purchases 2,016 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) Director Jacques Donavon Butler bought 2,016 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average price of $49.60 per share, with a total value of $99,993.60. Following the transaction, the director owned 37,487 shares in the company, valued at approximately $1,859,355.20. This represents a 5.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS opened at $49.10 on Friday. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a twelve month low of $43.06 and a twelve month high of $55.00. The business has a 50 day simple moving average of $49.46 and a 200-day simple moving average of $48.83.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business posted $0.42 earnings per share. As a group, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.82 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, September 4th. Stockholders of record on Thursday, August 20th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 27.16%.

Analyst Ratings Changes

ZWS has been the subject of a number of recent research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Barclays raised their target price on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Finally, Robert W. Baird set a $58.00 target price on Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.22.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several hedge funds have recently bought and sold shares of the company. Concurrent Investment Advisors LLC boosted its stake in Zurn Elkay Water Solutions Cor by 90.8% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 15,614 shares of the company’s stock valued at $789,000 after purchasing an additional 7,430 shares during the period. AXQ Capital LP increased its stake in shares of Zurn Elkay Water Solutions Cor by 89.3% in the second quarter. AXQ Capital LP now owns 12,080 shares of the company’s stock valued at $610,000 after purchasing an additional 5,697 shares during the period. Nykredit A S acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $115,000. Thrive Wealth Management LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 5.9% during the second quarter. Thrive Wealth Management LLC now owns 8,702 shares of the company’s stock valued at $440,000 after buying an additional 483 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Zurn Elkay Water Solutions Cor by 2.2% during the second quarter. Van ECK Associates Corp now owns 120,372 shares of the company’s stock valued at $6,082,000 after buying an additional 2,596 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

About Zurn Elkay Water Solutions Cor

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.