The Goldman Sachs Group Cuts Zurn Elkay Water Solutions (NYSE:ZWS) Price Target to $34.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its price target decreased by equities researchers at The Goldman Sachs Group from $39.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 1.04% from the stock’s previous close.

Separately, Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and an average target price of $37.67.

Zurn Elkay Water Solutions Trading Up 1.5 %

Zurn Elkay Water Solutions stock traded up $0.49 during midday trading on Wednesday, reaching $33.65. The stock had a trading volume of 230,091 shares, compared to its average volume of 1,079,538. 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 twelve month low of $28.25 and a twelve month high of $41.15. The firm’s fifty day simple moving average is $35.68 and its two-hundred day simple moving average is $36.92. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. Equities analysts anticipate that Zurn Elkay Water Solutions will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the sale, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC increased its stake in shares of Zurn Elkay Water Solutions by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock worth $293,000 after purchasing an additional 259 shares in the last quarter. DAVENPORT & Co LLC increased its position in Zurn Elkay Water Solutions by 3.2% in the fourth quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company’s stock worth $319,000 after buying an additional 269 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Zurn Elkay Water Solutions by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company’s stock worth $205,000 after buying an additional 344 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Zurn Elkay Water Solutions by 0.7% during the 4th quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company’s stock valued at $2,288,000 after buying an additional 389 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Zurn Elkay Water Solutions by 4.8% during the 4th quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company’s stock valued at $352,000 after acquiring an additional 430 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

About Zurn Elkay Water Solutions

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.