Zurn Elkay Water Solutions Cor (ZWS) – What Are Researchers Thinking About This Stock?

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $57.44.

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Barclays upped their price objective on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Royal Bank Of Canada upped their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th.

Zurn Elkay Water Solutions Cor Stock Up 0.7%

Shares of NYSE:ZWS opened at $46.55 on Friday. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. Zurn Elkay Water Solutions Cor has a 52-week low of $43.06 and a 52-week high of $55.00. The stock’s fifty day simple moving average is $48.20 and its 200-day simple moving average is $48.33. The company has a market capitalization of $7.72 billion, a P/E ratio of 28.73, a P/E/G ratio of 1.70 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%. The business had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. During the same quarter last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.83 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, August 20th were issued a $0.11 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is 27.16%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Jacques Butler purchased 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $49.60 per share, with a total value of $99,993.60. Following the purchase, the director directly owned 37,487 shares in the company, valued at $1,859,355.20. This trade represents a 5.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds have recently made changes to their positions in ZWS. Kilter Group LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $27,000. Hantz Financial Services Inc. increased its position in Zurn Elkay Water Solutions Cor by 138.9% during the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after purchasing an additional 468 shares in the last quarter. Assetmark Inc. raised its holdings in Zurn Elkay Water Solutions Cor by 53.0% in the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock valued at $38,000 after buying an additional 292 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a water management and plumbing products company serving commercial, institutional, industrial and residential markets. Its products are designed to support the collection, control, conservation, treatment and delivery of water in buildings and other infrastructure.

The company offers plumbing and drainage products, including drains, fixtures, faucets, flush valves, backflow prevention devices, water control systems and related accessories.