Zurn Elkay Water Solutions Co. (NYSE:ZWS) Given Average Recommendation of “Hold” by Brokerages

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

Several equities analysts have recently commented on ZWS shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Oppenheimer boosted their price target on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price objective for the company.

Zurn Elkay Water Solutions Trading Down 0.1 %

Zurn Elkay Water Solutions stock opened at $29.17 on Friday. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a 12-month low of $25.09 and a 12-month high of $34.58. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 41.09, a P/E/G ratio of 1.55 and a beta of 1.19. The firm has a 50 day moving average of $31.42 and a 200 day moving average of $31.00.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm 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%. The company’s revenue was up .5% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. As a group, research analysts predict that Zurn Elkay Water Solutions will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, May 20th were given a $0.08 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.32 annualized dividend and a yield of 1.10%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 36,938 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $30.44, for a total transaction of $1,124,392.72. Following the completion of the transaction, the insider now directly owns 23,682,793 shares of the company’s stock, valued at approximately $720,904,218.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Ice Mountain Llc sold 36,938 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $30.44, for a total value of $1,124,392.72. Following the transaction, the insider now directly owns 23,682,793 shares in the company, valued at $720,904,218.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas Christopoul sold 10,495 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $32.11, for a total transaction of $336,994.45. Following the transaction, the director now directly owns 104,844 shares in the company, valued at $3,366,540.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 641,465 shares of company stock worth $20,532,684. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC bought a new position in shares of Zurn Elkay Water Solutions during the first quarter valued at approximately $209,000. Redwood Grove Capital LLC lifted its holdings in Zurn Elkay Water Solutions by 5.9% during the first quarter. Redwood Grove Capital LLC now owns 230,994 shares of the company’s stock worth $7,731,000 after buying an additional 12,950 shares during the period. LRI Investments LLC bought a new stake in Zurn Elkay Water Solutions during the 1st quarter valued at $188,000. Tidal Investments LLC increased its holdings in shares of Zurn Elkay Water Solutions by 24.1% in the 1st quarter. Tidal Investments LLC now owns 10,889 shares of the company’s stock valued at $364,000 after acquiring an additional 2,117 shares during the period. Finally, Kennedy Capital Management LLC raised its position in shares of Zurn Elkay Water Solutions by 6.0% in the 1st quarter. Kennedy Capital Management LLC now owns 67,157 shares of the company’s stock worth $2,248,000 after acquiring an additional 3,794 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Company Profile

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.