Zurn Elkay Water Solutions Co. (NYSE:ZWS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have earned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $33.50.

Several analysts have commented on ZWS shares. Oppenheimer lifted their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th.

Insider Buying and Selling

In related news, major shareholder Ice Mountain Llc sold 46,380 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,484,160.00. Following the sale, the insider now owns 24,168,932 shares of the company’s stock, valued at approximately $773,405,824. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 46,380 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,484,160.00. Following the completion of the transaction, the insider now owns 24,168,932 shares of the company’s stock, valued at approximately $773,405,824. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas Christopoul sold 10,495 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $32.11, for a total transaction of $336,994.45. Following the completion of the transaction, the director now directly owns 104,844 shares of the company’s stock, valued at approximately $3,366,540.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 604,527 shares of company stock valued at $19,408,291. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Advisors LLC purchased a new position in Zurn Elkay Water Solutions in the 1st quarter worth approximately $209,000. Redwood Grove Capital LLC grew its stake in Zurn Elkay Water Solutions by 5.9% in the 1st quarter. Redwood Grove Capital LLC now owns 230,994 shares of the company’s stock worth $7,731,000 after buying an additional 12,950 shares in the last quarter. LRI Investments LLC purchased a new position in Zurn Elkay Water Solutions in the 1st quarter worth approximately $188,000. Tidal Investments LLC grew its stake in Zurn Elkay Water Solutions by 24.1% in the 1st quarter. Tidal Investments LLC now owns 10,889 shares of the company’s stock worth $364,000 after buying an additional 2,117 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its stake in Zurn Elkay Water Solutions by 6.0% in the 1st quarter. Kennedy Capital Management LLC now owns 67,157 shares of the company’s stock worth $2,248,000 after buying an additional 3,794 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $30.49 on Friday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 42.94, a P/E/G ratio of 1.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. Zurn Elkay Water Solutions has a 52 week low of $25.09 and a 52 week high of $34.58. The firm’s 50-day simple moving average is $31.53 and its two-hundred day simple moving average is $30.99.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, equities analysts forecast that Zurn Elkay Water Solutions will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, May 20th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, May 17th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

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.