Zurn Elkay Water Solutions Co. (NYSE:ZWS) Given Consensus Rating of “Moderate Buy” by Brokerages

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $38.50.

A number of equities analysts have recently issued reports on ZWS shares. Oppenheimer upped their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Robert W. Baird increased their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, Mizuho upped their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, October 31st.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock opened at $36.96 on Thursday. The company has a market cap of $6.27 billion, a P/E ratio of 46.79, a PEG ratio of 2.02 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The stock’s 50-day moving average is $38.76 and its 200 day moving average is $34.78. Zurn Elkay Water Solutions has a 1-year low of $27.55 and a 1-year high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The firm had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the previous year, the firm earned $0.29 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.57%.

Insider Buying and Selling

In related news, CFO David J. Pauli sold 4,070 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the transaction, the chief financial officer now owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the completion of the sale, the vice president now directly owns 35,422 shares in the company, valued at approximately $1,386,771.30. The trade was a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,202 shares of company stock valued at $5,813,358 over the last quarter. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Zurn Elkay Water Solutions

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after acquiring an additional 544 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Zurn Elkay Water Solutions by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock valued at $58,077,000 after purchasing an additional 329,563 shares during the period. Principal Financial Group Inc. boosted its holdings in Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after buying an additional 868,748 shares in the last quarter. Virtu Financial LLC acquired a new stake in Zurn Elkay Water Solutions during the third quarter valued at $234,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Zurn Elkay Water Solutions by 23.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock valued at $2,239,000 after buying an additional 11,732 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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.