Zurn Elkay Water Solutions Co. (NYSE:ZWS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $35.17.

Several analysts have weighed in on ZWS shares. Oppenheimer reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective 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.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction 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 transaction, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the sale, the vice president now directly owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction dated Wednesday, July 31st. The shares were 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 in the company, valued at approximately $12,854,060.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,572 shares of company stock valued at $2,721,672. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ZWS. Tortoise Investment Management LLC boosted its position in Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after acquiring an additional 373 shares during the last quarter. Quarry LP lifted its position in shares of Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after purchasing an additional 536 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Zurn Elkay Water Solutions during the second quarter worth $29,000. Whittier Trust Co. of Nevada Inc. grew its position in Zurn Elkay Water Solutions by 732.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after purchasing an additional 1,267 shares in the last quarter. Finally, EntryPoint Capital LLC grew its position in Zurn Elkay Water Solutions by 649.1% in the first quarter. EntryPoint Capital LLC now owns 1,603 shares of the company’s stock valued at $54,000 after purchasing an additional 1,389 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $35.93 on Tuesday. Zurn Elkay Water Solutions has a twelve month low of $25.09 and a twelve month high of $36.06. 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 firm has a market cap of $6.20 billion, a P/E ratio of 50.60, a price-to-earnings-growth ratio of 1.87 and a beta of 1.14. The firm’s 50-day simple moving average is $32.10 and its 200-day simple moving average is $31.62.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 earnings per share 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 for the quarter, compared to analyst estimates of $409.14 million. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Zurn Elkay Water Solutions will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date was Tuesday, August 20th. Zurn Elkay Water Solutions’s payout ratio 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.