Brokerages Set Zurn Elkay Water Solutions Co. (NYSE:ZWS) Price Target at $37.67

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has received a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $37.67.

ZWS has been the subject of several research reports. Stifel Nicolaus boosted their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, January 24th. The Goldman Sachs Group dropped their target price on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday.

Zurn Elkay Water Solutions Price Performance

NYSE:ZWS opened at $29.64 on Wednesday. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 2.01 and a beta of 1.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. Zurn Elkay Water Solutions has a 52 week low of $28.25 and a 52 week high of $41.15. The company has a 50-day moving average of $35.22 and a 200-day moving average of $36.82.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.21%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 39.13%.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares in the company, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now directly owns 15,002,819 shares in the company, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after acquiring an additional 544 shares in the last quarter. Atala Financial Inc purchased a new position in shares of Zurn Elkay Water Solutions during the fourth quarter valued at about $44,000. Tsfg LLC bought a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth about $56,000. Tortoise Investment Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 77.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after buying an additional 755 shares in the last quarter. Finally, Caisse Des Depots ET Consignations bought a new position in Zurn Elkay Water Solutions during the fourth quarter valued at approximately $82,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

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.