Zurn Elkay Water Solutions Co. (NYSE:ZWS) Receives $38.17 Average PT from Analysts

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $38.17.

Several brokerages recently issued reports on ZWS. Stifel Nicolaus upped their price objective 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. Deutsche Bank Aktiengesellschaft increased their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Mizuho increased their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, 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.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $39.93 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a fifty-two week low of $27.55 and a fifty-two week high of $40.64. The business has a fifty day moving average of $36.85 and a 200-day moving average of $33.09. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 50.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same period in the prior year, the firm earned $0.29 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, analysts predict that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed 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 a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is currently 45.57%.

Insider Transactions at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the sale, the director now owns 385,017 shares of the company’s stock, valued at $12,717,111.51. This represents a 3.89 % 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. Also, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the sale, the chief executive officer now owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,688 shares of company stock worth $8,400,151. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of large investors have recently added to or reduced their stakes in ZWS. State Street Corp boosted its position in Zurn Elkay Water Solutions by 63.8% in the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock valued at $195,585,000 after buying an additional 2,119,777 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after purchasing an additional 868,748 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after purchasing an additional 465,701 shares in the last quarter. Impax Asset Management Group plc increased its holdings in Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after purchasing an additional 346,412 shares during the last quarter. Finally, Public Sector Pension Investment Board acquired a new position in shares of Zurn Elkay Water Solutions in the 3rd quarter valued at approximately $10,947,000. 83.33% of the stock is owned by institutional investors and hedge funds.

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.