Analysts Set Zurn Elkay Water Solutions Co. (NYSE:ZWS) Price Target at $38.50

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $38.50.

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

Zurn Elkay Water Solutions Stock Down 1.5 %

Zurn Elkay Water Solutions stock opened at $38.99 on Friday. 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 stock has a market cap of $6.62 billion, a PE ratio of 49.36, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. Zurn Elkay Water Solutions has a fifty-two week low of $27.55 and a fifty-two week high of $41.15. The firm’s 50-day simple moving average is $38.50 and its 200 day simple moving average is $34.05.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its 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 during the quarter, compared to analyst estimates of $406.15 million. During the same period last year, the firm posted $0.29 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. Research analysts predict that Zurn Elkay Water Solutions will post 1.24 EPS 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. Shareholders of record on Wednesday, November 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.36 annualized dividend and a yield of 0.92%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.57%.

Insider Buying and Selling

In other news, CFO David J. Pauli sold 4,070 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the transaction, the chief financial officer now directly owns 47,572 shares in the company, valued at $1,862,443.80. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 10,035 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the transaction, the director now owns 374,982 shares in the company, valued at approximately $13,124,370. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,237 shares of company stock worth $6,164,583 in the last three months. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZWS. Quarry LP grew its holdings in shares of Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares during the last quarter. Tortoise Investment Management LLC lifted its position in Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after acquiring an additional 373 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Zurn Elkay Water Solutions during the 2nd quarter valued at $29,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 3rd quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Zurn Elkay Water Solutions by 732.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after purchasing an additional 1,267 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

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.