Analysts Set Zurn Elkay Water Solutions Co. (NYSE:ZWS) Price Target at $38.50

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $38.50.

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

Zurn Elkay Water Solutions Price Performance

ZWS opened at $36.20 on Thursday. Zurn Elkay Water Solutions has a 1 year low of $27.60 and a 1 year high of $41.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. The company’s 50 day simple moving average is $38.76 and its 200 day simple moving average is $34.87. The stock has a market capitalization of $6.14 billion, a PE ratio of 45.82, a P/E/G ratio of 2.02 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released 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 prior year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Zurn Elkay Water Solutions will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th were issued a $0.09 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.99%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s payout ratio is currently 45.57%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 20,000 shares of the 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 transaction, the director now owns 345,017 shares of the company’s stock, valued at approximately $12,969,189.03. This trade represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the transaction, the vice president now owns 35,422 shares of the company’s stock, valued at $1,386,771.30. This trade represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,202 shares of company stock valued at $5,813,358 in the last ninety days. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of Zurn Elkay Water Solutions by 17.4% during the 2nd quarter. Victory Capital Management Inc. now owns 721,973 shares of the company’s stock valued at $21,226,000 after acquiring an additional 107,221 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Zurn Elkay Water Solutions by 1.4% during the second quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock worth $1,203,000 after purchasing an additional 561 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 38.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 41,667 shares of the company’s stock valued at $1,225,000 after buying an additional 11,659 shares during the period. Choreo LLC acquired a new position in shares of Zurn Elkay Water Solutions in the 2nd quarter valued at about $348,000. Finally, Headlands Technologies LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter valued at about $88,000. Institutional investors own 83.33% of the company’s stock.

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.