Zurn Elkay Water Solutions Co. (NYSE:ZWS) Receives $37.40 Average Target Price from Analysts

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $37.40.

Several brokerages recently issued reports on ZWS. Oppenheimer boosted their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased 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. Finally, Stifel Nicolaus boosted their price target on 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.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS opened at $35.88 on Friday. The firm has a market cap of $6.13 billion, a P/E ratio of 45.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. The business’s 50 day moving average is $34.48 and its 200-day moving average is $32.25. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a 1-year low of $25.54 and a 1-year high of $38.11.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.29 earnings per share. Equities research analysts predict that Zurn Elkay Water Solutions will post 1.21 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 Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a $0.09 dividend. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.57%.

Insider Buying and Selling

In related news, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the sale, the vice president now owns 80,151 shares in the company, valued at $2,608,915.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the sale, the director now owns 345,017 shares in the company, valued at approximately $12,969,189.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $32.55, for a total value of $1,720,300.05. Following the transaction, the vice president now owns 80,151 shares of the company’s stock, valued at $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,486 shares of company stock worth $3,338,593 in the last three months. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Zurn Elkay Water Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZWS. Bleakley Financial Group LLC grew its stake in Zurn Elkay Water Solutions by 1.3% during the third quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock worth $750,000 after purchasing an additional 269 shares during the period. Tortoise Investment Management LLC raised its position in shares of Zurn Elkay Water Solutions by 76.7% during the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after purchasing an additional 373 shares during the period. MJP Associates Inc. ADV lifted its stake in shares of Zurn Elkay Water Solutions by 5.5% in the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock valued at $300,000 after buying an additional 534 shares in the last quarter. Quarry LP lifted its position in Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after acquiring an additional 536 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Zurn Elkay Water Solutions by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock worth $1,203,000 after purchasing an additional 561 shares in the last quarter. Institutional investors and hedge funds 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.