Zurn Elkay Water Solutions Cor’s (ZWS) “Buy (B-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their buy (b-) rating on shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in a research note issued to investors on Wednesday morning,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Oppenheimer upped their price objective on shares of Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.50.

Zurn Elkay Water Solutions Cor Price Performance

NYSE:ZWS opened at $45.48 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 45.03, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. The company has a 50 day moving average price of $46.02 and a 200-day moving average price of $38.95. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $48.42.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $444.50 million during the quarter, compared to analysts’ expectations of $424.55 million. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. Equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Wednesday, August 20th were issued a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 35.64%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 108,930 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the completion of the sale, the vice president owned 94,330 shares of the company’s stock, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Timothy J. Jahnke sold 2,156 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $47.54, for a total transaction of $102,496.24. Following the completion of the sale, the director directly owned 308,964 shares of the company’s stock, valued at $14,688,148.56. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,930 shares of company stock valued at $7,452,507 in the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

A number of hedge funds have recently modified their holdings of the company. Perpetual Ltd grew its holdings in shares of Zurn Elkay Water Solutions Cor by 1.1% in the third quarter. Perpetual Ltd now owns 342,136 shares of the company’s stock valued at $16,091,000 after purchasing an additional 3,657 shares during the period. Thrive Wealth Management LLC lifted its position in Zurn Elkay Water Solutions Cor by 3.8% in the third quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock valued at $410,000 after buying an additional 323 shares during the last quarter. Moody National Bank Trust Division lifted its position in Zurn Elkay Water Solutions Cor by 4.9% in the third quarter. Moody National Bank Trust Division now owns 26,493 shares of the company’s stock valued at $1,246,000 after buying an additional 1,229 shares during the last quarter. GAMMA Investing LLC lifted its position in Zurn Elkay Water Solutions Cor by 17.4% in the third quarter. GAMMA Investing LLC now owns 2,656 shares of the company’s stock valued at $125,000 after buying an additional 394 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in Zurn Elkay Water Solutions Cor by 15.6% in the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock valued at $91,000 after buying an additional 341 shares during the last quarter. 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 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.