Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Raised to $39.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its target price increased by Robert W. Baird from $37.00 to $39.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently issued reports on ZWS. Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $38.17.

Zurn Elkay Water Solutions Stock Performance

NYSE:ZWS opened at $37.08 on Thursday. Zurn Elkay Water Solutions has a twelve month low of $27.55 and a twelve month high of $38.11. The company has a market cap of $6.29 billion, a P/E ratio of 46.94, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a current ratio of 2.70, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $34.66 and its 200-day moving average price is $32.32.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 earnings per share. On average, sell-side analysts forecast that Zurn Elkay Water Solutions will post 1.23 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be paid a $0.09 dividend. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. Zurn Elkay Water Solutions’s payout ratio is 40.51%.

Insider Activity at Zurn Elkay Water Solutions

In other 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 owns 345,017 shares in the company, valued at approximately $12,969,189.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 345,017 shares in the company, 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 at this link. Also, Director Timothy J. Jahnke sold 10,035 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the sale, the director now owns 374,982 shares in the company, valued at $13,124,370. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,486 shares of company stock worth $3,338,593. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in Zurn Elkay Water Solutions by 49.6% during the 3rd 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 during the last quarter. Amalgamated Bank increased its position in Zurn Elkay Water Solutions by 714.9% during the 3rd quarter. Amalgamated Bank now owns 42,368 shares of the company’s stock worth $1,523,000 after purchasing an additional 37,169 shares during the period. Impax Asset Management Group plc lifted 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 valued at $315,645,000 after buying an additional 346,412 shares during the period. Fernwood Investment Management LLC acquired a new position in Zurn Elkay Water Solutions during the third quarter worth $539,000. Finally, Janney Montgomery Scott LLC raised its position in Zurn Elkay Water Solutions by 0.3% in the third quarter. Janney Montgomery Scott LLC now owns 209,209 shares of the company’s stock worth $7,519,000 after acquiring an additional 700 shares in the last quarter. 83.33% of the stock is currently 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.