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

Zurn Elkay Water Solutions (NYSE:ZWS) had its target price boosted by Stifel Nicolaus from $34.00 to $39.00 in a research note issued to investors on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

ZWS has been the topic of a number of other reports. The Goldman Sachs Group lowered their target price on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. BNP Paribas downgraded shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a research report on Wednesday, April 9th. Finally, Robert W. Baird reduced their target price on shares of Zurn Elkay Water Solutions from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of “Hold” and a consensus target price of $36.43.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS opened at $33.72 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. Zurn Elkay Water Solutions has a 1-year low of $27.74 and a 1-year high of $41.15. The stock has a market cap of $5.69 billion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The firm has a fifty day moving average price of $32.69 and a 200 day moving average price of $36.23.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. During the same period in the previous year, the business earned $0.29 EPS. As a group, sell-side analysts anticipate that Zurn Elkay Water Solutions will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

Insider Transactions at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the sale, the insider now owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP increased its holdings in shares of Zurn Elkay Water Solutions by 184.0% in the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company’s stock valued at $132,661,000 after purchasing an additional 2,304,285 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Zurn Elkay Water Solutions in the fourth quarter valued at about $80,457,000. Norges Bank acquired a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at approximately $61,412,000. Invesco Ltd. boosted its stake in shares of Zurn Elkay Water Solutions by 26.8% during the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company’s stock worth $219,335,000 after acquiring an additional 1,242,642 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after acquiring an additional 868,748 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.