Zurn Elkay Water Solutions Co. (NYSE:ZWS) Given Average Rating of “Hold” by Brokerages

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have earned an average rating of “Hold” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Four equities research 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 brokers that have covered the stock in the last year is $35.00.

Several analysts recently weighed in on the company. Stifel Nicolaus boosted their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Oppenheimer boosted their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th.

Zurn Elkay Water Solutions Trading Down 2.5 %

NYSE:ZWS opened at $30.62 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. Zurn Elkay Water Solutions has a one year low of $25.09 and a one year high of $34.58. The business’s 50-day simple moving average is $30.63 and its 200 day simple moving average is $31.10. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 43.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. Zurn Elkay Water Solutions’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. As a group, sell-side analysts predict that Zurn Elkay Water Solutions will post 1.18 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Monday, May 20th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Friday, May 17th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

Insider Activity

In other news, major shareholder Ice Mountain Llc sold 48,388 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $32.97, for a total transaction of $1,595,352.36. Following the completion of the transaction, the insider now directly owns 24,220,544 shares of the company’s stock, valued at $798,551,335.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas Christopoul sold 10,495 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $32.11, for a total value of $336,994.45. Following the completion of the transaction, the director now directly owns 104,844 shares of the company’s stock, valued at approximately $3,366,540.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ice Mountain Llc sold 48,388 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $32.97, for a total value of $1,595,352.36. Following the completion of the transaction, the insider now directly owns 24,220,544 shares of the company’s stock, valued at $798,551,335.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,442 shares of company stock valued at $7,716,844. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZWS. Wells Fargo & Company MN grew its holdings in Zurn Elkay Water Solutions by 2,110.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock worth $67,968,000 after buying an additional 2,206,508 shares in the last quarter. Norges Bank acquired a new stake in Zurn Elkay Water Solutions in the fourth quarter worth approximately $39,532,000. Raymond James & Associates lifted its position in Zurn Elkay Water Solutions by 1,622.8% in the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock worth $36,592,000 after purchasing an additional 1,171,985 shares during the period. Jennison Associates LLC lifted 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 purchasing an additional 518,733 shares during the period. Finally, Stifel Financial Corp lifted its position in Zurn Elkay Water Solutions by 3,236.0% in the fourth 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 period. 83.33% of the stock is owned by institutional investors.

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.