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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has received a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Four equities research 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 brokerages that have issued a report on the stock in the last year is $38.17.

A number of equities research analysts have commented on ZWS shares. Mizuho raised their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird increased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus upped their target price 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. Deutsche Bank Aktiengesellschaft lifted 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 report on Thursday, August 1st. Finally, Oppenheimer upped their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd.

Insider Buying and Selling

In other news, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $159,340.50. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the transaction, the chief executive officer now directly owns 2,242,867 shares in the company, valued at $89,333,392.61. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock worth $8,400,151 in the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Zurn Elkay Water Solutions during the third quarter worth about $234,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Zurn Elkay Water Solutions by 23.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock valued at $2,239,000 after acquiring an additional 11,732 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after acquiring an additional 35,570 shares during the period. Barclays PLC boosted its position in shares of Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company’s stock worth $10,952,000 after acquiring an additional 140,624 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in Zurn Elkay Water Solutions by 2.5% in the third quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock valued at $650,000 after purchasing an additional 449 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS opened at $39.73 on Wednesday. The stock has a fifty day moving average price of $37.10 and a 200 day moving average price of $33.19. Zurn Elkay Water Solutions has a 1-year low of $27.55 and a 1-year high of $40.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The company has a market cap of $6.74 billion, a PE ratio of 50.29, a P/E/G ratio of 2.02 and a beta of 1.14.

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

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. 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.