Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $57.44.

Several equities analysts have weighed in on ZWS shares. Royal Bank Of Canada raised their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Stifel Nicolaus upped their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th.

Zurn Elkay Water Solutions Cor Stock Down 0.4%

Zurn Elkay Water Solutions Cor stock opened at $46.31 on Friday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. The stock’s fifty day moving average is $48.28 and its two-hundred day moving average is $48.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The business had revenue of $491.00 million during the quarter, compared to the consensus estimate of $483.04 million. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue was up 10.5% on a year-over-year basis. Analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, August 20th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.44 annualized dividend and a yield of 1.0%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 27.16%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Butler acquired 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the transaction, the director directly owned 37,487 shares of the company’s stock, valued at $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Zurn Elkay Water Solutions Cor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Andina Capital Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 1.6% during the fourth quarter. Andina Capital Management LLC now owns 12,618 shares of the company’s stock worth $587,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System grew its holdings in Zurn Elkay Water Solutions Cor by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 41,607 shares of the company’s stock valued at $2,102,000 after purchasing an additional 220 shares in the last quarter. Assetmark Inc. increased its stake in Zurn Elkay Water Solutions Cor by 53.0% during the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after buying an additional 292 shares during the period. GAMMA Investing LLC increased its stake in Zurn Elkay Water Solutions Cor by 9.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,708 shares of the company’s stock worth $187,000 after buying an additional 331 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in Zurn Elkay Water Solutions Cor by 26.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,688 shares of the company’s stock worth $78,000 after buying an additional 349 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a water management and plumbing products company serving commercial, institutional, industrial and residential markets. Its products are designed to support the collection, control, conservation, treatment and delivery of water in buildings and other infrastructure.

The company offers plumbing and drainage products, including drains, fixtures, faucets, flush valves, backflow prevention devices, water control systems and related accessories.