Zurn Elkay Water Solutions Co. (NYSE:ZWS) Receives $38.17 Consensus Target Price from Brokerages

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has earned an average rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $38.17.

A number of research analysts recently weighed in on the company. Oppenheimer boosted their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Mizuho boosted their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their target price 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. Robert W. Baird boosted their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th.

Insider Activity at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction on Monday, September 9th. The stock was 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 directly owns 385,017 shares in the company, valued at approximately $12,717,111.51. This represents a 3.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the sale, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock worth $8,400,151 in the last ninety days. 3.80% of the stock is owned by company insiders.

Institutional Trading of Zurn Elkay Water Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. lifted its position in shares of Zurn Elkay Water Solutions by 11.1% during the 2nd quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock worth $6,209,000 after buying an additional 21,081 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Zurn Elkay Water Solutions by 209.9% during the 2nd quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock worth $2,411,000 after buying an additional 55,970 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its position in shares of Zurn Elkay Water Solutions by 23.1% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock worth $3,323,000 after buying an additional 17,350 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after buying an additional 346,412 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter worth $431,000. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Stock Up 1.5 %

NYSE:ZWS opened at $39.93 on Wednesday. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 50.54, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. Zurn Elkay Water Solutions has a twelve month low of $27.55 and a twelve month high of $40.64. The stock’s 50 day moving average price is $36.85 and its two-hundred day moving average price is $33.08. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 EPS. Equities research analysts expect that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.90%. Zurn Elkay Water Solutions’s payout ratio is 40.51%.

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.