Brokerages Set Zurn Elkay Water Solutions Co. (NYSE:ZWS) Price Target at $33.50

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) have been given an average rating of “Hold” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $33.50.

A number of equities analysts have recently issued reports on ZWS shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Mizuho downgraded shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Finally, BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE ZWS opened at $32.12 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. The company has a market cap of $5.55 billion, a P/E ratio of 45.24, a P/E/G ratio of 1.65 and a beta of 1.21. The firm’s fifty day moving average is $31.99 and its two-hundred day moving average is $30.29. Zurn Elkay Water Solutions has a 52-week low of $20.70 and a 52-week high of $34.58.

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

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, May 20th will be given a $0.08 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. Zurn Elkay Water Solutions’s payout ratio is currently 45.07%.

Insider Buying and Selling

In related news, CEO Todd A. Adams sold 129,604 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the sale, the chief executive officer now directly owns 1,828,550 shares of the company’s stock, valued at approximately $60,451,863. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the sale, the chief executive officer now directly owns 1,828,550 shares of the company’s stock, valued at $60,451,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sudhanshu Chhabra sold 4,231 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $31.29, for a total transaction of $132,387.99. Following the completion of the sale, the vice president now directly owns 80,594 shares of the company’s stock, valued at approximately $2,521,786.26. The disclosure for this sale can be found here. Insiders have sold 741,506 shares of company stock valued at $23,964,936 over the last quarter. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions

Several institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Zurn Elkay Water Solutions by 1.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 20,109 shares of the company’s stock valued at $591,000 after purchasing an additional 359 shares during the period. Assetmark Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 32.9% in the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock valued at $85,000 after buying an additional 718 shares during the period. Fiera Capital Corp boosted its position in shares of Zurn Elkay Water Solutions by 0.7% during the 3rd quarter. Fiera Capital Corp now owns 119,908 shares of the company’s stock valued at $3,360,000 after purchasing an additional 781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Zurn Elkay Water Solutions by 1.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,339 shares of the company’s stock worth $2,223,000 after buying an additional 982 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Zurn Elkay Water Solutions by 16.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

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.