Analysts Set Zurn Elkay Water Solutions Co. (NYSE:ZWS) Price Target at $37.67

Zurn Elkay Water Solutions Co. (NYSE:ZWS) has earned a consensus rating of “Hold” from the six analysts that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $37.67.

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. The Goldman Sachs Group decreased their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday.

Zurn Elkay Water Solutions Trading Down 3.3 %

ZWS opened at $29.64 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The stock’s 50 day moving average price is $35.22 and its 200-day moving average price is $36.82. Zurn Elkay Water Solutions has a one year low of $28.25 and a one year high of $41.15. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. On average, equities analysts forecast that Zurn Elkay Water Solutions will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.21%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 39.13%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the sale, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. The trade was a 12.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after acquiring an additional 544 shares during the period. Atala Financial Inc purchased a new position in shares of Zurn Elkay Water Solutions during the fourth quarter worth $44,000. Tsfg LLC acquired a new position in Zurn Elkay Water Solutions during the fourth quarter valued at $56,000. Tortoise Investment Management LLC boosted its holdings in Zurn Elkay Water Solutions by 77.4% in the fourth 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 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. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions 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.