Zurn Elkay Water Solutions (NYSE:ZWS) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Zurn Elkay Water Solutions (NYSE:ZWS) in a research report released on Thursday morning, Benzinga reports. They currently have a $37.00 price objective on the stock.

Several other brokerages also recently commented on ZWS. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a hold rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a buy rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $35.17.

Zurn Elkay Water Solutions Stock Up 1.2 %

Shares of ZWS stock opened at $32.87 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.75 and a current ratio of 2.84. The stock has a market cap of $5.62 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 1.75 and a beta of 1.14. The business’s fifty day moving average is $31.18 and its 200-day moving average is $31.39. Zurn Elkay Water Solutions has a 1 year low of $25.09 and a 1 year high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The firm had revenue of $412.00 million for the quarter, compared to analysts’ expectations of $409.14 million. During the same quarter last year, the business posted $0.24 EPS. Zurn Elkay Water Solutions’s revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Zurn Elkay Water Solutions will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Tuesday, August 20th. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Insider Activity

In related news, major shareholder Aimee Katz sold 100,000 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the completion of the sale, the insider now directly owns 23,574,164 shares of the company’s stock, valued at approximately $684,593,722.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Ice Mountain Llc sold 36,938 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $30.44, for a total value of $1,124,392.72. Following the completion of the transaction, the insider now directly owns 23,682,793 shares in the company, valued at approximately $720,904,218.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Aimee Katz sold 100,000 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $29.04, for a total value of $2,904,000.00. Following the sale, the insider now directly owns 23,574,164 shares in the company, valued at $684,593,722.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 217,715 shares of company stock valued at $6,638,953. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in ZWS. HighPoint Advisor Group LLC bought a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at about $5,213,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth about $1,511,000. Los Angeles Capital Management LLC bought a new position in Zurn Elkay Water Solutions in the 1st quarter valued at about $1,004,000. Epoch Investment Partners Inc. acquired a new position in Zurn Elkay Water Solutions during the 1st quarter valued at about $7,674,000. Finally, Janney Montgomery Scott LLC bought a new position in Zurn Elkay Water Solutions during the 4th quarter valued at $5,855,000. 83.33% of the stock is owned by institutional investors and hedge funds.

About Zurn Elkay Water Solutions

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.