Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Gets Price Target Reduction from Royal Bank Of Canada

Zurn Elkay Water Solutions Cor (NYSE:ZWS) had its price target cut by Royal Bank Of Canada from $54.00 to $49.00 in a research report released on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other brokerages have also commented on ZWS. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Barclays dropped their target price on Zurn Elkay Water Solutions Cor from $61.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Robert W. Baird set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of “Moderate Buy” and a consensus target price of $54.67.

Zurn Elkay Water Solutions Cor Price Performance

Zurn Elkay Water Solutions Cor stock opened at $44.77 on Thursday. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.62 and a beta of 1.07. The company has a current ratio of 2.85, a quick ratio of 2.13 and a debt-to-equity ratio of 0.29. Zurn Elkay Water Solutions Cor has a 12 month low of $42.89 and a 12 month high of $55.00. The stock’s 50 day moving average is $47.10 and its 200-day moving average is $48.26.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, October 27th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $495.10 million for the quarter, compared to analyst estimates of $493.36 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.46% and a net margin of 15.91%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share. Equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.86 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Friday, November 20th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 20th. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.11. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 25.73%.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Jacques Butler purchased 2,016 shares of the stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $49.60 per share, with a total value of $99,993.60. Following the acquisition, the director owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. This represents a 5.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several large investors have recently bought and sold shares of ZWS. Kilter Group LLC bought a new stake in Zurn Elkay Water Solutions Cor during the 2nd quarter worth $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $27,000. Root Financial Partners LLC acquired a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter worth about $26,000. Assetmark Inc. increased its holdings in Zurn Elkay Water Solutions Cor by 53.0% in the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after purchasing an additional 292 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at about $49,000. 83.33% of the stock is owned by institutional investors and hedge funds.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.