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

Weiss Ratings reissued their buy (b-) rating on shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in a research report released on Friday morning,Weiss Ratings reports.

Several other research analysts have also recently commented on the stock. Oppenheimer upped their target price 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. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Stifel Nicolaus upped their target price 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. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.50.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $46.41 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $48.42. The firm has a 50-day simple moving average of $46.34 and a 200 day simple moving average of $40.10. The company has a market cap of $7.78 billion, a PE ratio of 45.95, a P/E/G ratio of 2.49 and a beta of 1.09.

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

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction that occurred on 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 transaction, the vice president directly owned 94,330 shares in the company, valued at $4,113,731.30. This trade represents a 53.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.73, for a total transaction of $874,600.00. Following the completion of the transaction, the director owned 180,000 shares of the company’s stock, valued at $7,871,400. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,930 shares of company stock valued at $7,452,507 over the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZWS. Vanguard Group Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 2.4% during the first quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock worth $523,094,000 after buying an additional 371,635 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Zurn Elkay Water Solutions Cor by 0.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company’s stock worth $448,714,000 after buying an additional 42,277 shares in the last quarter. Invesco Ltd. boosted its holdings in Zurn Elkay Water Solutions Cor by 1.9% during the first quarter. Invesco Ltd. now owns 5,991,234 shares of the company’s stock worth $197,591,000 after buying an additional 110,932 shares in the last quarter. State Street Corp boosted its holdings in Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after buying an additional 30,483 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in Zurn Elkay Water Solutions Cor by 22.8% during the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after buying an additional 916,850 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

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.