Brokerages Set Zurn Elkay Water Solutions Co. (NYSE:ZWS) Target Price at $26.17

Posted by Defense World Staff on Apr 28th, 2023

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS – Get Rating) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $26.17.

Several analysts recently commented on the stock. Mizuho reissued a “buy” rating and set a $26.00 target price on shares of Zurn Elkay Water Solutions in a research note on Wednesday, February 8th. Stifel Nicolaus cut their price target on shares of Zurn Elkay Water Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, April 17th. The Goldman Sachs Group cut their price target on shares of Zurn Elkay Water Solutions from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, April 14th. KeyCorp cut their price target on shares of Zurn Elkay Water Solutions from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, January 18th. Finally, TheStreet upgraded shares of Zurn Elkay Water Solutions from a “c” rating to a “b-” rating in a research note on Wednesday.

Insider Activity at Zurn Elkay Water Solutions

In related news, Director Thomas Christopoul sold 23,715 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $23.92, for a total value of $567,262.80. Following the transaction, the director now directly owns 95,455 shares in the company, valued at approximately $2,283,283.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Craig Wehr sold 1,442 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $23.17, for a total transaction of $33,411.14. Following the sale, the insider now directly owns 82,640 shares in the company, valued at approximately $1,914,768.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas Christopoul sold 23,715 shares of Zurn Elkay Water Solutions stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $23.92, for a total transaction of $567,262.80. Following the sale, the director now owns 95,455 shares in the company, valued at $2,283,283.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,573 shares of company stock worth $633,483. 3.00% of the stock is owned by insiders.

Institutional Trading of Zurn Elkay Water Solutions

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Zurn Elkay Water Solutions by 3.1% during the 1st quarter. JPMorgan Chase & Co. now owns 166,538 shares of the company’s stock valued at $5,895,000 after purchasing an additional 5,067 shares during the last quarter. Raymond James & Associates lifted its holdings in Zurn Elkay Water Solutions by 56.7% during the 1st quarter. Raymond James & Associates now owns 56,374 shares of the company’s stock valued at $1,996,000 after purchasing an additional 20,393 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Zurn Elkay Water Solutions by 48.2% during the 1st quarter. MetLife Investment Management LLC now owns 63,174 shares of the company’s stock valued at $2,236,000 after purchasing an additional 20,555 shares during the last quarter. APG Asset Management N.V. bought a new position in Zurn Elkay Water Solutions during the 1st quarter valued at about $1,094,000. Finally, Synovus Financial Corp lifted its holdings in Zurn Elkay Water Solutions by 9.7% during the 1st quarter. Synovus Financial Corp now owns 26,225 shares of the company’s stock valued at $934,000 after purchasing an additional 2,318 shares during the last quarter. 74.65% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Trading Up 1.3 %

Shares of NYSE:ZWS opened at $20.70 on Tuesday. The company has a 50 day moving average of $21.38 and a 200-day moving average of $22.45. The firm has a market cap of $3.64 billion, a P/E ratio of 42.24, a P/E/G ratio of 1.39 and a beta of 1.25. Zurn Elkay Water Solutions has a twelve month low of $19.29 and a twelve month high of $32.97. The company has a current ratio of 2.62, a quick ratio of 1.35 and a debt-to-equity ratio of 0.33.

Zurn Elkay Water Solutions (NYSE:ZWS – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Zurn Elkay Water Solutions had a net margin of 3.84% and a return on equity of 12.64%. The company had revenue of $372.10 million during the quarter, compared to analyst estimates of $346.89 million. During the same period in the prior year, the business posted $0.24 EPS. The business’s revenue for the quarter was up 55.3% compared to the same quarter last year. As a group, analysts anticipate that Zurn Elkay Water Solutions will post 0.89 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were paid a $0.07 dividend. The ex-dividend date was Friday, February 17th. This represents a $0.28 dividend on an annualized basis and a yield of 1.35%. Zurn Elkay Water Solutions’s payout ratio is presently 57.14%.

Zurn Elkay Water Solutions Company Profile

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Zurn Elkay Water Solutions Corp. engages in the design, procurement, manufacture, and sale of water solutions. It operates through the United States, Canada, and Rest of World geographical segments. The company is headquartered in Milwaukee, WI.