Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $42.83 Consensus PT from Analysts

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $42.8333.

A number of brokerages recently issued reports on ZWS. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Oppenheimer set a $53.00 price objective on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research report on Friday, October 31st. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Finally, Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th.

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 17,844 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $47.55, for a total transaction of $848,482.20. Following the transaction, the director owned 311,120 shares of the company’s stock, valued at $14,793,756. This trade represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 40,100 shares of company stock worth $1,911,084 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 2.4% in the first quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock valued at $523,094,000 after acquiring an additional 371,635 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 0.3% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company’s stock worth $448,714,000 after purchasing an additional 42,277 shares during the period. Invesco Ltd. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 1.9% in the 1st quarter. Invesco Ltd. now owns 5,991,234 shares of the company’s stock valued at $197,591,000 after purchasing an additional 110,932 shares in the last quarter. State Street Corp grew its holdings in shares of Zurn Elkay Water Solutions Cor by 0.6% during the 2nd quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after purchasing an additional 30,483 shares during the period. Finally, Impax Asset Management Group plc increased its position in Zurn Elkay Water Solutions Cor by 22.8% during the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after purchasing an additional 916,850 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Up 1.9%

ZWS opened at $46.82 on Monday. The firm has a market cap of $7.84 billion, a P/E ratio of 41.81, a PEG ratio of 2.18 and a beta of 1.08. The business’s fifty day simple moving average is $46.83 and its 200 day simple moving average is $43.17. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $50.03. The company has a quick ratio of 1.83, a current ratio of 2.78 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $455.40 million for the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Thursday, November 20th were issued a $0.11 dividend. The ex-dividend date was Thursday, November 20th. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is presently 39.29%.

About Zurn Elkay Water Solutions Cor

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.