Zurn Elkay Water Solutions Co. (NYSE:ZWS) Receives $38.50 Average Target Price from Analysts

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $38.50.

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

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 4,070 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the transaction, the chief financial officer now owns 47,572 shares of the company’s stock, valued at $1,862,443.80. The trade was a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the sale, the chief executive officer now directly owns 2,242,867 shares in the company, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,202 shares of company stock worth $5,813,358 in the last three months. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZWS. State Street Corp increased its holdings in Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after purchasing an additional 2,119,777 shares during the period. Principal Financial Group Inc. grew its position in Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after purchasing an additional 868,748 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after acquiring an additional 465,701 shares during the period. Impax Asset Management Group plc increased its holdings in Zurn Elkay Water Solutions by 4.1% in the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after buying an additional 346,412 shares during the period. Finally, Public Sector Pension Investment Board purchased a new position in shares of Zurn Elkay Water Solutions during the 3rd quarter valued at about $10,947,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Down 0.3 %

Zurn Elkay Water Solutions stock opened at $37.15 on Friday. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 47.03, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The firm’s fifty day moving average price is $38.55 and its two-hundred day moving average price is $34.09. Zurn Elkay Water Solutions has a 1-year low of $27.55 and a 1-year high of $41.15. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $410.00 million for 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%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. On average, equities research 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 firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 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.