Zurn Elkay Water Solutions Co. (NYSE:ZWS) Receives Average Recommendation of “Hold” from Analysts

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has received a consensus recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $33.50.

ZWS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target 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. BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target on the stock. Mizuho downgraded shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Friday, February 9th. Finally, Oppenheimer upped their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th.

Zurn Elkay Water Solutions Price Performance

ZWS stock opened at $31.64 on Friday. Zurn Elkay Water Solutions has a one year low of $20.70 and a one year high of $34.58. The company’s fifty day moving average price is $31.97 and its 200-day moving average price is $30.16. 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 capitalization of $5.46 billion, a PE ratio of 44.56, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. Zurn Elkay Water Solutions’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, equities analysts anticipate that Zurn Elkay Water Solutions will post 1.18 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 20th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, May 17th. Zurn Elkay Water Solutions’s payout ratio is presently 45.07%.

Insider Transactions at Zurn Elkay Water Solutions

In other news, major shareholder Ice Mountain Llc sold 249,582 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the transaction, the insider now directly owns 24,505,660 shares in the company, valued at $785,161,346.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Michael Troutman sold 897 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.70, for a total value of $27,537.90. Following the completion of the sale, the insider now directly owns 43,026 shares of the company’s stock, valued at $1,320,898.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ice Mountain Llc sold 249,582 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the completion of the sale, the insider now directly owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 741,506 shares of company stock worth $23,964,936. Insiders own 3.80% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions

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

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.