Oppenheimer Reaffirms “Outperform” Rating for Zurn Elkay Water Solutions (NYSE:ZWS)

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 research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a buy rating in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a hold rating in a report on Thursday, July 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $35.17.

Zurn Elkay Water Solutions Trading Up 1.2 %

Zurn Elkay Water Solutions stock opened at $32.87 on Thursday. Zurn Elkay Water Solutions has a 12-month low of $25.09 and a 12-month high of $34.58. The stock has a market capitalization of $5.62 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The firm has a 50 day simple moving average of $31.18 and a 200-day simple moving average of $31.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75.

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

Zurn Elkay Water Solutions Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Timothy J. Jahnke sold 4,086 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total value of $134,878.86. Following the completion of the sale, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the transaction, the director now owns 385,017 shares in the company, valued at $12,717,111.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy J. Jahnke sold 4,086 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total value of $134,878.86. Following the sale, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 217,715 shares of company stock worth $6,638,953. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of hedge funds have recently added to or reduced their stakes in ZWS. Tortoise Investment Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after acquiring an additional 373 shares during the last quarter. Quarry LP grew its holdings in Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after purchasing an additional 536 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Zurn Elkay Water Solutions in the second quarter valued at approximately $29,000. Principal Securities Inc. acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth $34,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Zurn Elkay Water Solutions by 732.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after buying an additional 1,267 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.