Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $57.4444.
A number of research firms have recently weighed in on ZWS. Oppenheimer increased their price objective on Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus lifted their target price on shares of 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. Robert W. Baird set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Barclays raised their price target on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, July 31st.
Check Out Our Latest Research Report on ZWS
Zurn Elkay Water Solutions Cor Stock Performance
Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The business had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. Research analysts expect that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.
Zurn Elkay Water Solutions Cor Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Thursday, August 20th were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.0%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 27.16%.
Insider Activity
In other Zurn Elkay Water Solutions Cor news, Director Jacques Butler purchased 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average price 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 filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is owned by insiders.
Institutional Trading of Zurn Elkay Water Solutions Cor
Large investors have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC purchased a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter worth about $2,870,000. Deutsche Bank AG purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at approximately $8,205,000. WINTON GROUP Ltd purchased a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter worth $6,305,000. SG Americas Securities LLC grew its stake in Zurn Elkay Water Solutions Cor by 53.5% in the first quarter. SG Americas Securities LLC now owns 45,125 shares of the company’s stock worth $2,023,000 after purchasing an additional 15,735 shares during the period. Finally, Illinois Municipal Retirement Fund raised its holdings in Zurn Elkay Water Solutions Cor by 15.0% in the first quarter. Illinois Municipal Retirement Fund now owns 114,668 shares of the company’s stock worth $5,142,000 after purchasing an additional 14,958 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.
About Zurn Elkay Water Solutions Cor
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.
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