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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $38.50.

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

Insider Activity

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy J. Jahnke sold 20,000 shares of the business’s 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 completion of the transaction, the director now directly owns 345,017 shares of the company’s stock, valued at approximately $12,969,189.03. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,202 shares of company stock worth $5,813,358 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZWS. GAMMA Investing LLC grew its holdings in shares of Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after buying an additional 544 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Zurn Elkay Water Solutions by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock worth $58,077,000 after acquiring an additional 329,563 shares during the period. Principal Financial Group Inc. raised its holdings in Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after acquiring an additional 868,748 shares during the last quarter. Virtu Financial LLC acquired a new position in Zurn Elkay Water Solutions in the 3rd quarter valued at $234,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Zurn Elkay Water Solutions by 23.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock worth $2,239,000 after purchasing an additional 11,732 shares during the period. 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 $36.20 on Thursday. Zurn Elkay Water Solutions has a 12 month low of $27.60 and a 12 month high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The firm has a market capitalization of $6.14 billion, a P/E ratio of 45.82, a P/E/G ratio of 2.02 and a beta of 1.15. The company’s fifty day moving average price is $38.76 and its 200 day moving average price is $34.87.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. Zurn Elkay Water Solutions’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. As a group, sell-side 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 announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th were issued a $0.09 dividend. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.36 annualized dividend and a yield of 0.99%. Zurn Elkay Water Solutions’s dividend payout ratio is 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.