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

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

A number of other research analysts have also recently issued reports on ZWS. 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 report on Thursday, August 1st. Oppenheimer reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Zurn Elkay Water Solutions in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Zurn Elkay Water Solutions Stock Up 0.3 %

ZWS opened at $37.40 on Wednesday. The business has a 50 day simple moving average of $33.63 and a 200-day simple moving average of $32.02. Zurn Elkay Water Solutions has a 12 month low of $25.09 and a 12 month high of $38.11. The stock has a market capitalization of $6.46 billion, a P/E ratio of 52.68, a P/E/G ratio of 1.98 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $412.00 million for the quarter, compared to analyst estimates of $409.14 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. On average, equities analysts anticipate that Zurn Elkay Water Solutions will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 20,000 shares of the 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 transaction, the director now owns 345,017 shares of the company’s stock, valued at $12,969,189.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions 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 directly owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,572 shares of company stock worth $3,473,472. 3.80% of the stock is owned by insiders.

Institutional Trading of Zurn Elkay Water Solutions

A number of hedge funds have recently added to or reduced their stakes in the business. Tortoise Investment Management LLC raised its stake in Zurn Elkay Water Solutions by 76.7% during the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after purchasing an additional 373 shares during the period. Quarry LP grew its position in Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after acquiring an additional 536 shares during the period. International Assets Investment Management LLC purchased a new stake in Zurn Elkay Water Solutions during the second quarter valued at about $29,000. V Square Quantitative Management LLC acquired a new stake in Zurn Elkay Water Solutions during the third quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after purchasing an additional 1,267 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

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.