Zurn Elkay Water Solutions (NYSE:ZWS) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of Zurn Elkay Water Solutions (NYSE:ZWS) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a $37.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a hold rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a buy rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of Hold and a consensus price target of $35.17.

Zurn Elkay Water Solutions Stock Up 1.2 %

Shares of Zurn Elkay Water Solutions stock opened at $32.48 on Thursday. Zurn Elkay Water Solutions has a 1 year low of $25.09 and a 1 year high of $34.58. The business has a 50-day moving average of $31.10 and a two-hundred day moving average of $31.38. The company has a market capitalization of $5.55 billion, a P/E ratio of 45.75, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The company had revenue of $412.00 million during the quarter, compared to the consensus estimate of $409.14 million. During the same period in the prior year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Zurn Elkay Water Solutions will post 1.21 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.07%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the sale, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total value of $134,878.86. Following the transaction, the director now directly owns 389,399 shares in the company, valued at $12,854,060.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ice Mountain Llc sold 36,938 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $30.44, for a total transaction of $1,124,392.72. Following the completion of the transaction, the insider now owns 23,682,793 shares in the company, valued at $720,904,218.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,864 shares of company stock valued at $4,918,653. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of Zurn Elkay Water Solutions in the second quarter valued at $1,921,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Zurn Elkay Water Solutions in the second quarter valued at $431,000. Quarry LP increased its holdings in shares of Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after purchasing an additional 536 shares during the last quarter. Creative Planning grew its stake in shares of Zurn Elkay Water Solutions by 17.8% in the second quarter. Creative Planning now owns 15,101 shares of the company’s stock valued at $444,000 after acquiring an additional 2,281 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Zurn Elkay Water Solutions in the second quarter valued at about $433,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

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.