Stifel Nicolaus Boosts Zurn Elkay Water Solutions (NYSE:ZWS) Price Target to $36.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its target price upped by Stifel Nicolaus from $34.00 to $36.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other research analysts also recently commented on ZWS. Oppenheimer reissued an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Zurn Elkay Water Solutions Trading Up 0.3 %

ZWS stock opened at $37.40 on Wednesday. Zurn Elkay Water Solutions has a 52-week low of $25.09 and a 52-week high of $38.11. The company has a quick ratio of 1.75, a current ratio of 2.84 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.46 billion, a P/E ratio of 52.68, a PEG ratio of 1.98 and a beta of 1.14. The company’s 50-day simple moving average is $33.63 and its 200-day simple moving average is $32.02.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $412.00 million during 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 business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. As a group, equities analysts forecast that Zurn Elkay Water Solutions will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Insider Transactions at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now directly owns 345,017 shares of the company’s stock, valued at $12,969,189.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Timothy J. Jahnke sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now owns 345,017 shares of the company’s stock, valued at approximately $12,969,189.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy J. Jahnke sold 4,086 shares of the stock in a transaction 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 owns 389,399 shares in the company, valued at approximately $12,854,060.99. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,572 shares of company stock worth $3,473,472 over the last ninety days. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several institutional investors have recently modified their holdings of the company. Jennison Associates LLC raised its holdings in Zurn Elkay Water Solutions by 68.6% during the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock worth $42,684,000 after purchasing an additional 518,733 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in 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. Principal Financial Group Inc. boosted its stake in Zurn Elkay Water Solutions by 24.1% in the second quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock valued at $51,485,000 after acquiring an additional 339,892 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Zurn Elkay Water Solutions by 2.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after purchasing an additional 265,857 shares during the last quarter. Finally, Wintrust Investments LLC increased its position in shares of Zurn Elkay Water Solutions by 1,300.0% during the first quarter. Wintrust Investments LLC now owns 252,000 shares of the company’s stock worth $8,434,000 after purchasing an additional 234,000 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other 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.