Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $31.14.
A number of research analysts have recently weighed in on the company. TheStreet lowered Zurn Elkay Water Solutions from a “b” rating to a “c+” rating in a report on Tuesday, October 3rd. The Goldman Sachs Group lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $31.00 to $29.00 in a report on Monday, October 9th. Robert W. Baird raised their target price on Zurn Elkay Water Solutions from $23.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 25th. Stifel Nicolaus raised their target price on Zurn Elkay Water Solutions from $24.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, Mizuho raised their target price on Zurn Elkay Water Solutions from $26.00 to $34.00 in a research report on Wednesday, July 26th.
Zurn Elkay Water Solutions Price Performance
Zurn Elkay Water Solutions (NYSE:ZWS – Get Free Report) last issued its earnings results on Tuesday, October 31st. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $398.40 million during the quarter, compared to analysts’ expectations of $396.38 million. Zurn Elkay Water Solutions had a return on equity of 9.65% and a net margin of 7.46%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, sell-side analysts forecast that Zurn Elkay Water Solutions will post 0.95 EPS for the current fiscal year.
Zurn Elkay Water Solutions Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Monday, November 20th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 17th. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.12%. Zurn Elkay Water Solutions’s dividend payout ratio is 43.08%.
In related news, insider Craig Wehr sold 55,133 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $28.09, for a total transaction of $1,548,685.97. Following the transaction, the insider now directly owns 81,905 shares in the company, valued at $2,300,711.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 111,056.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,777,778 shares of the company’s stock valued at $460,600,000 after purchasing an additional 21,758,186 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in Zurn Elkay Water Solutions by 98,060.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,398,827 shares of the company’s stock worth $145,174,000 after buying an additional 5,393,327 shares in the last quarter. Wellington Management Group LLP raised its stake in Zurn Elkay Water Solutions by 74.9% in the first quarter. Wellington Management Group LLP now owns 12,434,393 shares of the company’s stock worth $265,599,000 after buying an additional 5,324,506 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Zurn Elkay Water Solutions by 145.1% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock worth $202,037,000 after purchasing an additional 4,268,785 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Zurn Elkay Water Solutions by 33.7% during the second quarter. BlackRock Inc. now owns 11,869,166 shares of the company’s stock worth $319,162,000 after purchasing an additional 2,994,006 shares in the last quarter. Hedge funds and other institutional investors own 82.45% 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, including interceptors, water control and backflow, fire protection, PEX pipings and tubings, valves, fittings, and installation tools under the Zurn and Wilkis brand names.
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