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

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $35.17.

ZWS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 4,086 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the transaction, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ice Mountain Llc sold 36,938 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $30.44, for a total value of $1,124,392.72. Following the transaction, the insider now directly owns 23,682,793 shares in the company, valued at approximately $720,904,218.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total value of $134,878.86. Following the completion of the sale, the director now directly owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,951 shares of company stock worth $4,424,854. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter valued at about $1,921,000. B. Riley Wealth Advisors Inc. bought a new position in Zurn Elkay Water Solutions in the second quarter worth approximately $431,000. Quarry LP boosted its stake in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after acquiring an additional 536 shares during the last quarter. Creative Planning grew its position in shares of Zurn Elkay Water Solutions by 17.8% during the 2nd quarter. Creative Planning now owns 15,101 shares of the company’s stock valued at $444,000 after acquiring an additional 2,281 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter valued at $433,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Trading Down 0.8 %

NYSE:ZWS opened at $30.41 on Friday. Zurn Elkay Water Solutions has a one year low of $25.09 and a one year high of $34.58. The company’s 50-day simple moving average is $30.85 and its 200 day simple moving average is $31.36. The firm has a market capitalization of $5.20 billion, a P/E ratio of 42.83, a PEG ratio of 1.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $412.00 million for the quarter, compared to the consensus estimate of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. As a group, analysts forecast that Zurn Elkay Water Solutions will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.07%.

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.