Zurn Elkay Water Solutions Cor (NYSE:ZWS) Given Average Rating of “Hold” by Brokerages

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has received a consensus rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $42.8333.

A number of research analysts recently commented on the stock. Mizuho set a $49.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Oppenheimer set a $53.00 price objective on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. Finally, Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th.

Zurn Elkay Water Solutions Cor Trading Down 1.3%

ZWS stock opened at $47.46 on Thursday. The firm has a fifty day moving average price of $46.81 and a 200 day moving average price of $41.61. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $50.03. The firm has a market cap of $7.94 billion, a PE ratio of 42.38, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.78.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The business had revenue of $455.40 million during the quarter, compared to analyst estimates of $442.62 million. During the same quarter last year, the business earned $0.34 earnings per share. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Thursday, November 20th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 39.29%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 7,461 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $47.50, for a total value of $354,397.50. Following the completion of the sale, the director owned 162,000 shares in the company, valued at approximately $7,695,000. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 40,100 shares of company stock valued at $1,911,084 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in shares of Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the period. Whittier Trust Co. bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $26,000. Fifth Third Bancorp lifted its stake in shares of Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after acquiring an additional 256 shares during the last quarter. First Horizon Corp purchased a new position in Zurn Elkay Water Solutions Cor during the 3rd quarter valued at $45,000. Finally, Covestor Ltd grew its position in Zurn Elkay Water Solutions Cor by 180.3% in the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock valued at $46,000 after acquiring an additional 622 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor 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.