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

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $38.17.

A number of analysts have weighed in on the company. Robert W. Baird raised their price target 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. Oppenheimer boosted their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their price target 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. Stifel Nicolaus boosted their price objective 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. Finally, Mizuho increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st.

Insiders Place Their Bets

In related news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy J. Jahnke sold 15,600 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the transaction, the director now directly owns 385,017 shares in the company, valued at $12,717,111.51. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,688 shares of company stock valued at $8,400,151. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Tortoise Investment Management LLC increased 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 purchasing an additional 373 shares during the period. Quarry LP grew its holdings in Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after acquiring an additional 536 shares during the period. International Assets Investment Management LLC purchased a new position in Zurn Elkay Water Solutions in the second quarter worth $29,000. V Square Quantitative Management LLC acquired a new stake in Zurn Elkay Water Solutions in the third quarter valued at $36,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Zurn Elkay Water Solutions by 732.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after purchasing an additional 1,267 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $39.93 on Wednesday. Zurn Elkay Water Solutions has a 52 week low of $27.55 and a 52 week high of $40.64. The firm has a 50 day moving average of $36.85 and a two-hundred day moving average of $33.09. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.78 billion, a PE ratio of 50.54, a P/E/G ratio of 1.99 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. During the same period in the previous year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts predict that Zurn Elkay Water Solutions will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio is currently 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.