Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives Average Rating of "Hold" from Analysts

Key Points

• Zurn Elkay Water Solutions Cor has received an average rating of "Hold" from six analysts, with a price target of $38.00 over the next 12 months.
• Insiders at the company have sold substantial shares recently, with Director Timothy J. Jahnke selling almost 10,000 shares for approximately $444,156.
• The company will pay a quarterly dividend of $0.09 per share on September 5th, representing an annualized yield of 0.8%.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) has earned an average rating of "Hold" from the six ratings firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $38.00.

A number of research firms have recently weighed in on ZWS. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 108,930 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the completion of the sale, the vice president owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. The trade was a 53.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy J. Jahnke sold 9,857 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total value of $444,156.42. Following the sale, the director directly owned 328,964 shares of the company's stock, valued at approximately $14,823,117.84. This represents a 2.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,930 shares of company stock valued at $6,501,529. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $265,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $448,000. LPL Financial LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 2.2% in the 1st quarter. LPL Financial LLC now owns 98,183 shares of the company's stock valued at $3,238,000 after buying an additional 2,103 shares during the period. GAMMA Investing LLC increased its stake in shares of Zurn Elkay Water Solutions Cor by 3,250.8% in the 1st quarter. GAMMA Investing LLC now owns 31,397 shares of the company's stock valued at $952,000 after purchasing an additional 30,460 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 28.1% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Up 2.9%

NYSE ZWS traded up $1.31 during midday trading on Friday, hitting $45.98. 810,636 shares of the company traded hands, compared to its average volume of 808,589. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. The company has a market cap of $7.70 billion, a PE ratio of 45.53, a price-to-earnings-growth ratio of 2.40 and a beta of 1.07. The company's 50-day simple moving average is $41.54 and its 200-day simple moving average is $36.72. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $46.60.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $444.50 million for the quarter, compared to analysts' expectations of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. As a group, equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. Zurn Elkay Water Solutions Cor's payout ratio is currently 35.64%.

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.