Brokerages Set Zurn Elkay Water Solutions Co. (NYSE:ZWS) PT at $35.17

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $35.17.

Several equities analysts have issued reports on ZWS shares. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer restated an “outperform” rating and issued a $37.00 target price on shares of Zurn Elkay Water Solutions in a report on Thursday, September 12th.

Insider Activity

In other news, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly owns 80,151 shares in the company, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy J. Jahnke sold 15,600 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the sale, the director now owns 385,017 shares in the company, valued at $12,717,111.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,572 shares of company stock worth $2,721,672 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of ZWS. Jennison Associates LLC raised its position in Zurn Elkay Water Solutions by 68.6% in the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock worth $42,684,000 after acquiring an additional 518,733 shares in the last quarter. Stifel Financial Corp lifted its holdings in Zurn Elkay Water Solutions by 3,236.0% in the 4th quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock worth $14,889,000 after purchasing an additional 491,093 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Zurn Elkay Water Solutions by 37.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after buying an additional 465,701 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Zurn Elkay Water Solutions by 24.1% during the second quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock valued at $51,485,000 after purchasing an additional 339,892 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Zurn Elkay Water Solutions by 2.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock valued at $386,286,000 after purchasing an additional 265,857 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Stock Up 0.7 %

ZWS stock opened at $36.38 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a twelve month low of $25.09 and a twelve month high of $36.64. The company’s 50 day moving average is $32.47 and its two-hundred day moving average is $31.75. The stock has a market cap of $6.22 billion, a P/E ratio of 51.24, a PEG ratio of 1.95 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The company had revenue of $412.00 million for the quarter, compared to analysts’ expectations of $409.14 million. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that Zurn Elkay Water Solutions will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.88%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 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.