Zurn Elkay Water Solutions Cor (NYSE:ZWS) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $42.8333.

Several equities analysts have recently weighed in on the company. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. The Goldman Sachs Group reissued a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Stifel Nicolaus lifted 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 report on Friday, September 12th. Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $46.84 on Monday. The company has a quick ratio of 1.83, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $7.84 billion, a P/E ratio of 41.82, a PEG ratio of 2.22 and a beta of 1.08. The stock’s 50 day moving average is $46.86 and its 200 day moving average is $43.00. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $50.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.The business had revenue of $455.40 million during the quarter, compared to analysts’ expectations of $442.62 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Thursday, November 20th were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, November 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 39.29%.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 7,461 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $47.50, for a total value of $354,397.50. Following the completion of the transaction, the director owned 162,000 shares in the company, valued at $7,695,000. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 40,100 shares of company stock valued at $1,911,084. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several institutional investors have recently modified their holdings of ZWS. Cetera Investment Advisers raised its position in Zurn Elkay Water Solutions Cor by 5.6% in the 1st quarter. Cetera Investment Advisers now owns 21,703 shares of the company’s stock worth $716,000 after buying an additional 1,153 shares during the last quarter. LPL Financial LLC grew its stake in shares of Zurn Elkay Water Solutions Cor by 2.2% in the first quarter. LPL Financial LLC now owns 98,183 shares of the company’s stock worth $3,238,000 after acquiring an additional 2,103 shares during the period. Federated Hermes Inc. grew its stake in shares of Zurn Elkay Water Solutions Cor by 3,687.2% in the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock worth $59,000 after acquiring an additional 1,733 shares during the period. Natixis Advisors LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 18.2% during the first quarter. Natixis Advisors LLC now owns 25,144 shares of the company’s stock valued at $829,000 after purchasing an additional 3,877 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Zurn Elkay Water Solutions Cor by 28.1% during the first quarter. PNC Financial Services Group Inc. now owns 9,990 shares of the company’s stock valued at $329,000 after purchasing an additional 2,193 shares during the period. 83.33% of the stock is owned by hedge funds and other 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.