Zurn Elkay Water Solutions Co. (NYSE:ZWS) Receives $38.50 Average Price Target from Analysts

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have received an average rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $38.50.

A number of analysts have recently commented on the stock. Robert W. Baird boosted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Oppenheimer raised their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Mizuho upped their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st.

Insider Activity at Zurn Elkay Water Solutions

In related news, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction on 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. This represents a 5.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction on 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 directly owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,202 shares of company stock worth $5,813,358. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZWS. Cetera Advisors LLC bought a new stake in shares of Zurn Elkay Water Solutions during the first quarter worth approximately $209,000. SG Americas Securities LLC increased its position in Zurn Elkay Water Solutions by 228.1% during the 2nd quarter. SG Americas Securities LLC now owns 18,675 shares of the company’s stock worth $549,000 after buying an additional 12,983 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 8.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,540 shares of the company’s stock worth $663,000 after buying an additional 1,754 shares in the last quarter. Raymond James & Associates boosted its position in shares of Zurn Elkay Water Solutions by 3.8% in the second quarter. Raymond James & Associates now owns 1,371,832 shares of the company’s stock valued at $40,332,000 after acquiring an additional 50,076 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of Zurn Elkay Water Solutions in the second quarter valued at about $2,569,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS opened at $37.48 on Friday. The company has a fifty day moving average price of $38.56 and a 200 day moving average price of $34.16. Zurn Elkay Water Solutions has a 1-year low of $27.55 and a 1-year high of $41.15. The firm has a market cap of $6.36 billion, a PE ratio of 47.44, a PEG ratio of 2.02 and a beta of 1.14. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. Zurn Elkay Water Solutions’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Research 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 was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, November 20th. 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 0.96%. Zurn Elkay Water Solutions’s payout ratio is currently 45.57%.

Zurn Elkay Water Solutions Company Profile

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.