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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $33.50.

ZWS has been the topic of several recent analyst reports. Oppenheimer lifted their target price on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Mizuho downgraded shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Friday, February 9th.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, VP Sudhanshu Chhabra sold 4,231 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $31.29, for a total value of $132,387.99. Following the sale, the vice president now directly owns 80,594 shares in the company, valued at approximately $2,521,786.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Sudhanshu Chhabra sold 4,231 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $31.29, for a total value of $132,387.99. Following the completion of the sale, the vice president now directly owns 80,594 shares of the company’s stock, valued at approximately $2,521,786.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Troutman sold 897 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.70, for a total value of $27,537.90. Following the transaction, the insider now directly owns 43,026 shares in the company, valued at approximately $1,320,898.20. The disclosure for this sale can be found here. Insiders sold 522,397 shares of company stock worth $16,722,922 over the last 90 days. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in ZWS. LVW Advisors LLC purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter worth about $569,000. Strs Ohio raised its holdings in shares of Zurn Elkay Water Solutions by 235.5% in the fourth quarter. Strs Ohio now owns 46,300 shares of the company’s stock worth $1,361,000 after buying an additional 32,500 shares during the period. Huntington National Bank lifted its stake in shares of Zurn Elkay Water Solutions by 29.5% during the 3rd quarter. Huntington National Bank now owns 537,376 shares of the company’s stock worth $15,057,000 after acquiring an additional 122,281 shares during the last quarter. Raymond James & Associates boosted its holdings in Zurn Elkay Water Solutions by 1,622.8% during the 4th quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock valued at $36,592,000 after acquiring an additional 1,171,985 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Zurn Elkay Water Solutions by 8.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,039,076 shares of the company’s stock valued at $29,115,000 after acquiring an additional 83,182 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE ZWS opened at $32.11 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.95. Zurn Elkay Water Solutions has a 1 year low of $20.70 and a 1 year high of $34.58. The firm has a fifty day moving average price of $32.01 and a 200-day moving average price of $30.34. The stock has a market cap of $5.54 billion, a PE ratio of 45.22, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The business had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. During the same period last year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts anticipate that Zurn Elkay Water Solutions will post 1.18 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, May 20th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, May 17th. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

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.