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

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $38.17.

A number of brokerages have recently weighed in on ZWS. 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 research report on Thursday, October 31st. Oppenheimer upped their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upped their target price on 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.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS opened at $39.01 on Wednesday. Zurn Elkay Water Solutions has a 52-week low of $27.55 and a 52-week high of $40.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. The business’s 50 day moving average price is $36.43 and its two-hundred day moving average price is $32.94. The firm has a market cap of $6.62 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14.

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

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.36 annualized dividend and a yield of 0.92%. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio is 45.57%.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 4,070 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the completion of the transaction, the chief financial officer now owns 47,572 shares in the company, valued at $1,862,443.80. This represents a 7.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the transaction, the director now owns 385,017 shares of the company’s stock, valued at $12,717,111.51. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 225,688 shares of company stock worth $8,400,151. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC grew its stake in Zurn Elkay Water Solutions by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock valued at $293,000 after purchasing an additional 259 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Zurn Elkay Water Solutions by 1.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock worth $750,000 after acquiring an additional 269 shares during the period. Tortoise Investment Management LLC grew its stake in shares of Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after acquiring an additional 373 shares during the period. MML Investors Services LLC grew its stake in shares of Zurn Elkay Water Solutions by 2.5% during the 3rd quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock worth $650,000 after acquiring an additional 449 shares during the period. Finally, MJP Associates Inc. ADV grew its stake in shares of Zurn Elkay Water Solutions by 5.5% during the 2nd quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock worth $300,000 after acquiring an additional 534 shares during the period. Institutional investors own 83.33% of the company’s stock.

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.