Analysts Set Zurn Elkay Water Solutions Cor (NYSE:ZWS) PT at $57.22

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $57.4444.

A number of analysts have recently issued reports on ZWS shares. Oppenheimer increased their target price on Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on 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. Zacks Research raised Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Royal Bank Of Canada increased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $46.22 on Wednesday. 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’s 50 day simple moving average is $48.84 and its 200-day simple moving average is $48.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. The company has a market cap of $7.67 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Butler purchased 2,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the acquisition, the director owned 37,487 shares in the company, valued at $1,859,355.20. This trade represents a 5.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth $2,870,000. Deutsche Bank AG bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at approximately $8,205,000. WINTON GROUP Ltd bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $6,305,000. SG Americas Securities LLC increased its holdings in Zurn Elkay Water Solutions Cor by 53.5% in the first quarter. SG Americas Securities LLC now owns 45,125 shares of the company’s stock worth $2,023,000 after buying an additional 15,735 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Zurn Elkay Water Solutions Cor by 15.0% in the first quarter. Illinois Municipal Retirement Fund now owns 114,668 shares of the company’s stock worth $5,142,000 after buying an additional 14,958 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a water solutions company that designs, manufactures and supplies products used to manage, conserve, control and promote the safe use of water. Its offerings serve commercial, institutional, industrial and residential applications across plumbing, drainage and water-management systems.

The company’s product portfolio includes plumbing fixtures and fittings, commercial faucets, flush valves, showers, drains, roof and floor drainage products, backflow-prevention devices, water-quality and filtration systems, drinking-water products, and related accessories.