Zurn Elkay Water Solutions Cor (NYSE:ZWS) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) have earned a consensus recommendation of "Hold" from the seven ratings firms that are presently 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 target among brokers that have issued a report on the stock in the last year is $36.29.

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

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 25,921 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $37.19, for a total transaction of $964,001.99. Following the completion of the sale, the vice president directly owned 94,132 shares in the company, valued at $3,500,769.08. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David J. Pauli sold 2,706 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total transaction of $100,419.66. Following the sale, the chief financial officer owned 60,772 shares of the company's stock, valued at approximately $2,255,248.92. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Hedge funds and other institutional investors have recently modified their holdings of the company. Central Pacific Bank Trust Division grew its holdings in Zurn Elkay Water Solutions Cor by 8.4% in the second quarter. Central Pacific Bank Trust Division now owns 4,771 shares of the company's stock valued at $174,000 after purchasing an additional 371 shares during the period. Voya Investment Management LLC grew its holdings in Zurn Elkay Water Solutions Cor by 39.8% in the first quarter. Voya Investment Management LLC now owns 105,039 shares of the company's stock valued at $3,464,000 after purchasing an additional 29,878 shares during the period. Strs Ohio purchased a new stake in Zurn Elkay Water Solutions Cor in the first quarter valued at approximately $439,000. Intech Investment Management LLC grew its holdings in Zurn Elkay Water Solutions Cor by 36.4% in the first quarter. Intech Investment Management LLC now owns 74,842 shares of the company's stock valued at $2,468,000 after purchasing an additional 19,959 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Zurn Elkay Water Solutions Cor by 5.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company's stock valued at $16,127,000 after purchasing an additional 24,348 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Up 1.1%

Shares of NYSE:ZWS opened at $38.17 on Friday. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 2.34 and a beta of 0.99. The firm's 50-day simple moving average is $36.32 and its 200-day simple moving average is $35.38. The company has a quick ratio of 1.72, a current ratio of 2.87 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 $41.15.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $388.80 million for the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. During the same quarter in the previous year, the firm earned $0.29 earnings per share. As a group, equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Tuesday, May 20th. Zurn Elkay Water Solutions Cor's payout ratio is currently 36.36%.

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.

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