Zurn Elkay Water Solutions Cor (ZWS) – What Are Investment Firms Thinking About This Stock?

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $54.67.

Several equities research analysts have weighed in on the stock. Robert W. Baird set a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Mizuho set a $48.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Zacks Research cut Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 22nd.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, Director Jacques Butler bought 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average price of $49.60 per share, for a total transaction of $99,993.60. Following the purchase, the director directly owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at $1,241,345,000. Bank of America Corp DE acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter worth $278,160,000. Jupiter Topco LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor during the second quarter worth $172,287,000. Dimensional Fund Advisors LP raised its holdings in shares of Zurn Elkay Water Solutions Cor by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,563,031 shares of the company’s stock worth $114,913,000 after purchasing an additional 8,752 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Zurn Elkay Water Solutions Cor during the second quarter valued at $55,207,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Down 0.3%

NYSE:ZWS opened at $44.65 on Thursday. The firm has a market cap of $7.37 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07. The company has a 50-day moving average of $47.01 and a 200 day moving average of $48.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.85 and a quick ratio of 2.13. Zurn Elkay Water Solutions Cor has a 1-year low of $42.89 and a 1-year high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 15.91% and a return on equity of 18.46%. The business had revenue of $495.10 million during the quarter, compared to analyst estimates of $493.36 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.86 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Friday, November 20th will be issued a $0.13 dividend. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 30.41%.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.