Zurn Elkay Water Solutions (NYSE:ZWS) Downgraded by Mizuho

Mizuho cut shares of Zurn Elkay Water Solutions (NYSE:ZWSFree Report) from a buy rating to a neutral rating in a report published on Friday, MarketBeat Ratings reports. The brokerage currently has $34.00 price objective on the stock.

Several other brokerages have also issued reports on ZWS. Stifel Nicolaus lowered Zurn Elkay Water Solutions from a buy rating to a hold rating and set a $31.00 target price for the company. in a research report on Tuesday, December 19th. KeyCorp downgraded Zurn Elkay Water Solutions from an overweight rating to a sector weight rating in a research note on Wednesday, December 13th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $31.14.

Read Our Latest Stock Report on Zurn Elkay Water Solutions

Zurn Elkay Water Solutions Trading Up 0.4 %

ZWS opened at $32.35 on Friday. The business has a 50 day simple moving average of $29.60 and a two-hundred day simple moving average of $28.85. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 49.77, a PEG ratio of 1.83 and a beta of 1.21. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. Zurn Elkay Water Solutions has a one year low of $19.29 and a one year high of $33.95.

Zurn Elkay Water Solutions (NYSE:ZWSGet Free Report) last announced its earnings results on Monday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The firm had revenue of $356.80 million during the quarter, compared to analyst estimates of $350.55 million. During the same quarter in the prior year, the company earned $0.16 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Analysts predict that Zurn Elkay Water Solutions will post 1.12 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.32 annualized dividend and a yield of 0.99%. Zurn Elkay Water Solutions’s dividend payout ratio is 49.23%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, insider Michael Troutman sold 35,082 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $29.75, for a total value of $1,043,689.50. Following the transaction, the insider now directly owns 32,008 shares in the company, valued at approximately $952,238. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Michael Troutman sold 35,082 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $29.75, for a total value of $1,043,689.50. Following the transaction, the insider now directly owns 32,008 shares in the company, valued at approximately $952,238. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark W. Peterson sold 70,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $32.88, for a total value of $2,301,600.00. Following the completion of the transaction, the chief financial officer now owns 302,299 shares in the company, valued at $9,939,591.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 264,686 shares of company stock worth $8,622,698. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of institutional investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC raised its holdings in Zurn Elkay Water Solutions by 111,056.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,777,778 shares of the company’s stock worth $460,600,000 after purchasing an additional 21,758,186 shares during the period. Vanguard Group Inc. raised its holdings in Zurn Elkay Water Solutions by 18.4% in the 3rd quarter. Vanguard Group Inc. now owns 13,446,027 shares of the company’s stock worth $329,428,000 after purchasing an additional 2,085,426 shares during the period. BlackRock Inc. raised its holdings in Zurn Elkay Water Solutions by 33.7% in the 2nd quarter. BlackRock Inc. now owns 11,869,166 shares of the company’s stock worth $319,162,000 after purchasing an additional 2,994,006 shares during the period. Bank of America Corp DE raised its holdings in Zurn Elkay Water Solutions by 5.0% in the 1st quarter. Bank of America Corp DE now owns 7,857,541 shares of the company’s stock worth $167,837,000 after purchasing an additional 374,409 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 145.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock worth $202,037,000 after purchasing an additional 4,268,785 shares during the period. 82.45% of the stock is owned by institutional investors.

About Zurn Elkay Water Solutions

(Get Free Report)

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, including interceptors, water control and backflow, fire protection, PEX pipings and tubings, valves, fittings, and installation tools under the Zurn and Wilkis brand names.

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Analyst Recommendations for Zurn Elkay Water Solutions (NYSE:ZWS)

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