Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Increased to $37.00 by Analysts at Oppenheimer

Zurn Elkay Water Solutions (NYSE:ZWS) had its target price upped by Oppenheimer from $36.00 to $37.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on ZWS. Stifel Nicolaus lowered shares of Zurn Elkay Water Solutions from a buy rating to a hold rating and set a $31.00 price target for the company. in a research report on Tuesday, December 19th. Mizuho lowered shares of Zurn Elkay Water Solutions from a buy rating to a neutral rating and set a $34.00 price target for the company. in a research report on Friday, February 9th. Finally, BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an outperform rating and a $40.00 price target for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $32.75.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $31.66 on Friday. Zurn Elkay Water Solutions has a 1 year low of $20.06 and a 1 year high of $34.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 1.78 and a beta of 1.22. The company has a fifty day moving average price of $31.98 and a 200-day moving average price of $29.76.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Monday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $356.80 million during the quarter, compared to analyst estimates of $350.55 million. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. As a group, equities research analysts predict that Zurn Elkay Water Solutions will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s payout ratio is 49.23%.

Insider Transactions at Zurn Elkay Water Solutions

In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the sale, the insider now directly owns 24,998,760 shares of the company’s stock, valued at $804,460,096.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the sale, the chief executive officer now directly owns 1,828,550 shares of the company’s stock, valued at $60,451,863. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ice Mountain Llc sold 50,172 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the completion of the sale, the insider now directly owns 24,998,760 shares in the company, valued at $804,460,096.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 344,466 shares of company stock valued at $11,256,881. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. LVW Advisors LLC purchased a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at approximately $569,000. Huntington National Bank grew its position in Zurn Elkay Water Solutions by 29.5% during the third quarter. Huntington National Bank now owns 537,376 shares of the company’s stock valued at $15,057,000 after acquiring an additional 122,281 shares during the last quarter. Raymond James & Associates grew its position in Zurn Elkay Water Solutions by 1,622.8% during the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock valued at $36,592,000 after acquiring an additional 1,171,985 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Zurn Elkay Water Solutions by 8.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,039,076 shares of the company’s stock valued at $29,115,000 after acquiring an additional 83,182 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Zurn Elkay Water Solutions by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,726,242 shares of the company’s stock valued at $48,369,000 after acquiring an additional 19,074 shares during the last quarter. 83.33% of the stock is 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.