Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Raised to $38.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its price target raised by Stifel Nicolaus from $36.00 to $38.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. Oppenheimer increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Mizuho raised their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $39.77 on Wednesday. Zurn Elkay Water Solutions has a one year low of $27.55 and a one year high of $41.15. The firm has a 50-day moving average of $38.38 and a 200-day moving average of $33.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The company has a market cap of $6.75 billion, a P/E ratio of 50.34, a P/E/G ratio of 2.05 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The business had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. During the same quarter last year, the company posted $0.29 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Zurn Elkay Water Solutions will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.91%. Zurn Elkay Water Solutions’s payout ratio is presently 45.57%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, CEO Todd A. Adams sold 120,000 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the transaction, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the transaction, the director now directly owns 374,982 shares in the company, valued at approximately $13,124,370. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,237 shares of company stock worth $6,164,583 over the last three months. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Zurn Elkay Water Solutions in the third quarter valued at $234,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Zurn Elkay Water Solutions by 23.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock valued at $2,239,000 after acquiring an additional 11,732 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Zurn Elkay Water Solutions by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock valued at $117,060,000 after acquiring an additional 35,570 shares in the last quarter. Barclays PLC boosted its holdings in Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company’s stock valued at $10,952,000 after acquiring an additional 140,624 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in Zurn Elkay Water Solutions by 2.5% in the third quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock valued at $650,000 after acquiring an additional 449 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

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.