Brokerages Set Zurn Elkay Water Solutions Co. (NYSE:ZWS) PT at $36.43

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $36.43.

A number of research firms recently weighed in on ZWS. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. BNP Paribas downgraded shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research report on Wednesday, April 9th. Robert W. Baird reduced their price target on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the transaction, the insider now owns 15,002,819 shares in the company, valued at $504,094,718.40. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its holdings in shares of Zurn Elkay Water Solutions by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company’s stock valued at $132,661,000 after acquiring an additional 2,304,285 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Zurn Elkay Water Solutions during the fourth quarter valued at approximately $80,457,000. Norges Bank bought a new position in shares of Zurn Elkay Water Solutions in the fourth quarter valued at approximately $61,412,000. Invesco Ltd. lifted its stake in shares of Zurn Elkay Water Solutions by 26.8% in the fourth quarter. Invesco Ltd. now owns 5,880,302 shares of the company’s stock worth $219,335,000 after buying an additional 1,242,642 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after buying an additional 868,748 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Stock Up 1.6 %

NYSE ZWS opened at $34.99 on Friday. Zurn Elkay Water Solutions has a 12 month low of $27.74 and a 12 month high of $41.15. The company has a market capitalization of $5.89 billion, a P/E ratio of 38.03, a PEG ratio of 2.01 and a beta of 1.08. The company’s 50 day simple moving average is $32.56 and its 200 day simple moving average is $36.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. During the same quarter in the prior year, the firm earned $0.29 EPS. Equities research analysts expect that Zurn Elkay Water Solutions will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.36 annualized dividend and a yield of 1.03%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 36.36%.

About Zurn Elkay Water Solutions

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.