Zurn Elkay Water Solutions Co. (NYSE:ZWS) Receives Average Recommendation of "Hold" from Brokerages

Zurn Elkay Water Solutions Co. (NYSE:ZWS - Get Free Report) has received a consensus rating of "Hold" from the seven analysts that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $36.29.

Several research firms have recently commented on ZWS. Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reduced their price target on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. BNP Paribas downgraded Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 target price for the company. in a report on Wednesday, April 9th. Robert W. Baird cut their price target on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions in a research report on Friday, May 16th.

Insider Transactions at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 2,706 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the completion of the transaction, the chief financial officer now owns 60,772 shares of the company's stock, valued at approximately $2,255,248.92. The trade was a 4.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 25,921 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $37.19, for a total transaction of $964,001.99. Following the completion of the transaction, the vice president now owns 94,132 shares of the company's stock, valued at approximately $3,500,769.08. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Corporate 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. HM Payson & Co. acquired a new position in Zurn Elkay Water Solutions in the first quarter worth approximately $37,000. Atala Financial Inc purchased a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter valued at $44,000. Tortoise Investment Management LLC boosted its position in shares of Zurn Elkay Water Solutions by 77.4% in the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock valued at $65,000 after purchasing an additional 755 shares during the period. Federated Hermes Inc. increased its stake in Zurn Elkay Water Solutions by 3,687.2% in the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock worth $59,000 after purchasing an additional 1,733 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in Zurn Elkay Water Solutions during the 4th quarter worth about $82,000. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS opened at $35.96 on Thursday. The stock has a 50-day simple moving average of $33.07 and a 200-day simple moving average of $36.11. The stock has a market capitalization of $6.05 billion, a PE ratio of 39.09, a PEG ratio of 2.01 and a beta of 1.02. Zurn Elkay Water Solutions has a 1 year low of $27.74 and a 1 year high of $41.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.02. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. The firm had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. During the same period in the prior year, the company posted $0.29 earnings per share. On average, analysts predict that Zurn Elkay Water Solutions will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, May 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 36.36%.

About Zurn Elkay Water Solutions

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.

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