Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Has Average Price Target of $57.00 According to Brokerages

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $54.67.

Several research analysts recently issued reports on ZWS shares. Mizuho set a $48.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Barclays decreased their target price on Zurn Elkay Water Solutions Cor from $61.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price target (down from $60.00) on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th.

Zurn Elkay Water Solutions Cor Stock Up 0.1%

Shares of Zurn Elkay Water Solutions Cor stock opened at $44.77 on Thursday. Zurn Elkay Water Solutions Cor has a one year low of $42.89 and a one year high of $55.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.85 and a quick ratio of 2.13. The stock’s 50-day moving average is $47.10 and its 200 day moving average is $48.26. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.62 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, October 27th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. Zurn Elkay Water Solutions Cor had a return on equity of 18.46% and a net margin of 15.91%. The business had revenue of $495.10 million during the quarter, compared to analysts’ expectations of $493.36 million. During the same quarter last year, the firm posted $0.43 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.86 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Friday, November 20th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 20th. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 25.73%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, Director Jacques Butler bought 2,016 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the acquisition, the director directly owned 37,487 shares in the company, valued at approximately $1,859,355.20. This trade represents a 5.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

Institutional Trading of Zurn Elkay Water Solutions Cor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd raised its holdings in shares of Zurn Elkay Water Solutions Cor by 138.7% in the 3rd quarter. Covestor Ltd now owns 2,175 shares of the company’s stock worth $101,000 after purchasing an additional 1,264 shares during the period. Vise Technologies Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 250.1% in the third quarter. Vise Technologies Inc. now owns 15,236 shares of the company’s stock valued at $708,000 after buying an additional 10,884 shares during the period. International Assets Investment Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 9,573.6% during the 3rd quarter. International Assets Investment Management LLC now owns 658,000 shares of the company’s stock valued at $295,000 after buying an additional 651,198 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Zurn Elkay Water Solutions Cor by 32.6% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 25,200 shares of the company’s stock valued at $1,171,000 after buying an additional 6,200 shares during the last quarter. Finally, Peterson Wealth Services grew its stake in shares of Zurn Elkay Water Solutions Cor by 8.1% during the 3rd quarter. Peterson Wealth Services now owns 24,009 shares of the company’s stock worth $1,116,000 after acquiring an additional 1,802 shares during the period. 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 manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.