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

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective lifted by Stifel Nicolaus from $34.00 to $36.00 in a report published on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Other equities research analysts have also issued research reports about the stock. Oppenheimer reiterated an “outperform” rating and set 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 price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.80.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $37.51 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.75 and a current ratio of 2.84. Zurn Elkay Water Solutions has a one year low of $25.09 and a one year high of $38.11. The company’s 50-day simple moving average is $33.35 and its 200-day simple moving average is $31.96. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 52.83, a PEG ratio of 1.93 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm 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%. Zurn Elkay Water Solutions’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities analysts anticipate that Zurn Elkay Water Solutions will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were paid a $0.08 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Zurn Elkay Water Solutions’s payout ratio is currently 45.07%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the sale, the vice president now owns 80,151 shares in the company, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Timothy J. Jahnke sold 4,086 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 389,399 shares in the company, valued at $12,854,060.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the transaction, the vice president now owns 80,151 shares of the company’s stock, valued at $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,572 shares of company stock worth $2,721,672. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZWS. Jennison Associates LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 68.6% in the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock valued at $42,684,000 after acquiring an additional 518,733 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Zurn Elkay Water Solutions by 37.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after buying an additional 465,701 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Zurn Elkay Water Solutions by 24.1% during the second quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock worth $51,485,000 after buying an additional 339,892 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in 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 buying an additional 265,857 shares in the last quarter. Finally, Wintrust Investments LLC boosted its holdings in 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 buying an additional 234,000 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.