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

by · The Cerbat Gem

Zurn Elkay Water Solutions (NYSE:ZWS – Free Report) had its target price boosted by Stifel Nicolaus from $36.00 to $38.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

ZWS has been the subject of a number of other research reports. 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 research report on Thursday, October 31st. Oppenheimer lifted their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Mizuho increased their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Hold” and a consensus target price of $38.50.

Get Our Latest Report on ZWS

Zurn Elkay Water Solutions Stock Performance

ZWS opened at $40.35 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. The company has a market cap of $6.85 billion, a PE ratio of 51.51, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14. The stock has a 50-day moving average of $38.16 and a 200-day moving average of $33.75. Zurn Elkay Water Solutions has a 52-week low of $27.55 and a 52-week high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating 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 company had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same quarter last year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Zurn Elkay Water Solutions will post 1.24 earnings per share 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. Investors of record on Wednesday, November 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.57%.

Insider Buying and Selling

In other news, VP Jeffrey J. Lavalle sold 3,132 shares of the firm’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 $122,617.80. Following the completion of the transaction, the vice president now directly owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. This trade represents a 8.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy J. Jahnke sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the sale, the director now directly owns 345,017 shares in the company, valued at approximately $12,969,189.03. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,237 shares of company stock valued at $6,164,583 over the last three months. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in 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 purchasing an additional 2,119,777 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after buying an additional 868,748 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Zurn Elkay Water Solutions by 37.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after acquiring an additional 465,701 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Zurn Elkay Water Solutions by 4.1% in the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after acquiring an additional 346,412 shares in the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in Zurn Elkay Water Solutions during the 3rd quarter worth approximately $10,947,000. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Company Profile

(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, 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.

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