Zurn Elkay Water Solutions Co. (NYSE:ZWS) Receives $32.25 Consensus Target Price from Brokerages

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has earned a consensus rating of “Hold” from the eight brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $32.75.

A number of research analysts have recently issued reports on the company. Oppenheimer raised their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday. Mizuho cut Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Friday, February 9th. Stifel Nicolaus cut Zurn Elkay Water Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Tuesday, December 19th. Finally, BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price objective on the stock.

Insider Buying and Selling

In related news, major shareholder Ice Mountain Llc sold 1,223 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $32.20, for a total value of $39,380.60. Following the sale, the insider now directly owns 24,947,709 shares of the company’s stock, valued at $803,316,229.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zurn Elkay Water Solutions news, President Jeffrey A. Schoon sold 1,039 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $31.29, for a total transaction of $32,510.31. Following the sale, the president now directly owns 16,395 shares of the company’s stock, valued at approximately $512,999.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ice Mountain Llc sold 1,223 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $32.20, for a total value of $39,380.60. Following the sale, the insider now directly owns 24,947,709 shares in the company, valued at $803,316,229.80. The disclosure for this sale can be found here. Insiders have sold 344,466 shares of company stock valued at $11,256,881 over the last ninety days. 3.00% of the stock is owned by insiders.

Institutional Trading of Zurn Elkay Water Solutions

Several large investors have recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its position in Zurn Elkay Water Solutions by 111,056.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,777,778 shares of the company’s stock valued at $460,600,000 after acquiring an additional 21,758,186 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock valued at $404,041,000 after purchasing an additional 131,683 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 33.7% during the second quarter. BlackRock Inc. now owns 11,869,166 shares of the company’s stock valued at $319,162,000 after purchasing an additional 2,994,006 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Zurn Elkay Water Solutions by 5.0% during the first quarter. Bank of America Corp DE now owns 7,857,541 shares of the company’s stock valued at $167,837,000 after purchasing an additional 374,409 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 145.1% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock valued at $202,037,000 after purchasing an additional 4,268,785 shares during the last quarter. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Trading Down 0.8 %

NYSE ZWS opened at $31.66 on Tuesday. The stock’s 50-day simple moving average is $31.98 and its two-hundred day simple moving average is $29.76. Zurn Elkay Water Solutions has a twelve month low of $20.06 and a twelve month high of $34.58. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 1.78 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Monday, February 5th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The business had revenue of $356.80 million for the quarter, compared to the consensus estimate of $350.55 million. During the same quarter last year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts forecast that Zurn Elkay Water Solutions will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were paid a $0.08 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s payout ratio is presently 49.23%.

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.