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

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective raised by Stifel Nicolaus from $38.00 to $39.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts have also recently commented on the company. Oppenheimer raised their target price on 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. Robert W. Baird lifted their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Mizuho increased their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Zurn Elkay Water Solutions Trading Down 0.9 %

NYSE:ZWS opened at $38.76 on Friday. The stock has a fifty day simple moving average of $38.58 and a 200 day simple moving average of $35.38. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 49.06, a price-to-earnings-growth ratio of 1.80 and a beta of 1.15. Zurn Elkay Water Solutions has a 1-year low of $28.25 and a 1-year high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. Sell-side analysts forecast that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Jeffrey J. Lavalle sold 3,132 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the transaction, the vice president now owns 35,422 shares in the company, valued at approximately $1,386,771.30. This trade represents a 8.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the sale, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,202 shares of company stock worth $5,061,558. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its stake in shares of Zurn Elkay Water Solutions by 11.1% in the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock worth $6,209,000 after buying an additional 21,081 shares during the last quarter. Barclays PLC lifted its position in Zurn Elkay Water Solutions by 85.7% during the 3rd quarter. Barclays PLC now owns 304,731 shares of the company’s stock worth $10,952,000 after acquiring an additional 140,624 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after purchasing an additional 868,748 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of Zurn Elkay Water Solutions by 23.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock worth $3,323,000 after purchasing an additional 17,350 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after purchasing an additional 35,570 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

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.