Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Raised to $39.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective increased by Stifel Nicolaus from $38.00 to $39.00 in a report released on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also issued reports about the stock. Oppenheimer boosted 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 report on Tuesday, October 22nd. Robert W. Baird boosted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Mizuho boosted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

Zurn Elkay Water Solutions Price Performance

ZWS stock opened at $38.76 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a 12 month low of $28.25 and a 12 month high of $41.15. The firm has a market cap of $6.58 billion, a P/E ratio of 49.06, a P/E/G ratio of 1.80 and a beta of 1.15. The company’s 50-day moving average price is $38.58 and its two-hundred day moving average price is $35.50.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same period last year, the firm earned $0.29 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current fiscal year.

Insider Transactions at Zurn Elkay Water Solutions

In related news, VP Jeffrey J. Lavalle sold 3,132 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the completion of the transaction, the vice president now owns 35,422 shares in the company, valued at approximately $1,386,771.30. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David J. Pauli sold 4,070 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the sale, the chief financial officer now directly owns 47,572 shares in the company, valued at approximately $1,862,443.80. This trade represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,202 shares of company stock worth $5,061,558 in the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZWS. State Street Corp boosted its holdings in shares of Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock valued at $195,585,000 after buying an additional 2,119,777 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after buying an additional 868,748 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after buying an additional 465,701 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after buying an additional 346,412 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Zurn Elkay Water Solutions by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock valued at $58,077,000 after buying an additional 329,563 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Company Profile

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.