Brokerages Set Zurn Elkay Water Solutions Cor (NYSE:ZWS) PT at $57.22

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $57.4444.

Several brokerages have recently weighed in on ZWS. Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Stifel Nicolaus raised their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Robert W. Baird set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. Finally, Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS opened at $46.19 on Wednesday. The stock has a market cap of $7.66 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05. The stock has a fifty day moving average of $48.75 and a 200-day moving average of $48.41.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $483.04 million. During the same quarter in the prior year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, August 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 27.16%.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, Director Jacques Butler purchased 2,016 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average price of $49.60 per share, with a total value of $99,993.60. Following the completion of the acquisition, the director 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 filing with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several large investors have recently added to or reduced their stakes in ZWS. Kingsview Wealth Management LLC purchased a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter valued at about $2,870,000. Deutsche Bank AG purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $8,205,000. WINTON GROUP Ltd bought a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter valued at about $6,305,000. SG Americas Securities LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 53.5% during the 1st quarter. SG Americas Securities LLC now owns 45,125 shares of the company’s stock valued at $2,023,000 after purchasing an additional 15,735 shares during the last quarter. Finally, Engineers Gate Manager LP raised its holdings in shares of Zurn Elkay Water Solutions Cor by 114.0% during the 2nd quarter. Engineers Gate Manager LP now owns 56,915 shares of the company’s stock valued at $2,876,000 after buying an additional 30,320 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a water solutions company that designs, manufactures and supplies products used to manage, conserve, control and promote the safe use of water. Its offerings serve commercial, institutional, industrial and residential applications across plumbing, drainage and water-management systems.

The company’s product portfolio includes plumbing fixtures and fittings, commercial faucets, flush valves, showers, drains, roof and floor drainage products, backflow-prevention devices, water-quality and filtration systems, drinking-water products, and related accessories.