Brokerages Set Zurn Elkay Water Solutions Co. (NYSE:ZWS) Target Price at $37.40

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has received a consensus rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $38.17.

Several research analysts have weighed in on ZWS shares. Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer lifted their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Robert W. Baird boosted their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Mizuho raised their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday.

Zurn Elkay Water Solutions Trading Up 2.7 %

ZWS opened at $37.08 on Friday. The company has a market cap of $6.29 billion, a P/E ratio of 46.94, a price-to-earnings-growth ratio of 1.93 and a beta of 1.14. The company has a fifty day moving average price of $34.66 and a two-hundred day moving average price of $32.31. The company has a current ratio of 2.70, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a 1-year low of $27.55 and a 1-year high of $38.11.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts predict that Zurn Elkay Water Solutions will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio is 40.51%.

Insider Buying and Selling

In related news, Director Timothy J. Jahnke sold 15,600 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the sale, the director now owns 385,017 shares in the company, valued at approximately $12,717,111.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the sale, the vice president now owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the sale, the director now directly owns 385,017 shares in the company, valued at approximately $12,717,111.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,486 shares of company stock valued at $3,338,593. 3.80% of the stock is owned by insiders.

Institutional Trading of Zurn Elkay Water Solutions

Several hedge funds and other institutional investors have recently modified their holdings of ZWS. Bleakley Financial Group LLC raised its holdings in Zurn Elkay Water Solutions by 1.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock valued at $750,000 after acquiring an additional 269 shares during the period. Tortoise Investment Management LLC raised its stake in shares of Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after purchasing an additional 373 shares during the period. MJP Associates Inc. ADV lifted its holdings in Zurn Elkay Water Solutions by 5.5% during the 2nd quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock worth $300,000 after purchasing an additional 534 shares in the last quarter. Quarry LP boosted its stake in Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after purchasing an additional 536 shares during the period. Finally, Arizona State Retirement System grew its holdings in Zurn Elkay Water Solutions by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock valued at $1,203,000 after buying an additional 561 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

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.