Zurn Elkay Water Solutions Co. (NYSE:ZWS) Receives $37.40 Average Target Price from Analysts

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $37.40.

Several research firms have issued reports on ZWS. Stifel Nicolaus upped their price target on shares of 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. Oppenheimer upped their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE ZWS opened at $36.06 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.75 and a current ratio of 2.84. The stock has a 50 day moving average price of $34.29 and a 200 day moving average price of $32.20. The stock has a market capitalization of $6.16 billion, a PE ratio of 46.23, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. Zurn Elkay Water Solutions has a 52 week low of $25.54 and a 52 week high of $38.11.

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

Zurn Elkay Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be issued a $0.09 dividend. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is currently 41.03%.

Insider Transactions at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the sale, the director now owns 345,017 shares in the company, valued at $12,969,189.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Timothy J. Jahnke sold 15,600 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the transaction, the director now directly owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the sale, the director now directly owns 345,017 shares of the company’s stock, valued at $12,969,189.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,572 shares of company stock worth $3,473,472. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Sei Investments Co. boosted its stake in shares of Zurn Elkay Water Solutions by 11.1% in the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock valued at $6,209,000 after buying an additional 21,081 shares during the period. Hsbc Holdings PLC lifted its position in shares of Zurn Elkay Water Solutions by 209.9% during the 2nd quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock valued at $2,411,000 after acquiring an additional 55,970 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter worth $431,000. AQR Capital Management LLC bought a new position in shares of Zurn Elkay Water Solutions in the second quarter worth $1,068,000. Finally, Epoch Investment Partners Inc. bought a new position in shares of Zurn Elkay Water Solutions in the first quarter worth $7,674,000. 83.33% of the stock is owned by 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.