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

Zurn Elkay Water Solutions (NYSE:ZWSFree Report) had its price target upped by Oppenheimer from $36.00 to $37.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the stock.

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

Check Out Our Latest Stock Analysis on Zurn Elkay Water Solutions

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $31.66 on Friday. The stock’s fifty day moving average is $31.98 and its two-hundred day moving average is $29.76. The firm has a market capitalization of $5.48 billion, a P/E ratio of 48.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.02. Zurn Elkay Water Solutions has a fifty-two week low of $20.06 and a fifty-two week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWSGet Free Report) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The business had revenue of $356.80 million for the quarter, compared to analyst estimates of $350.55 million. During the same quarter in the prior year, the company posted $0.16 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Zurn Elkay Water Solutions will post 1.15 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a 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%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 50,172 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the sale, the insider now owns 24,998,760 shares in the company, valued at approximately $804,460,096.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 129,604 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the sale, the chief executive officer now owns 1,828,550 shares in the company, valued at approximately $60,451,863. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the insider now owns 24,998,760 shares in the company, valued at approximately $804,460,096.80. The disclosure for this sale can be found here. Insiders have sold a total of 344,466 shares of company stock worth $11,256,881 in the last quarter. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZWS. Moneta Group Investment Advisors LLC increased its holdings in shares of Zurn Elkay Water Solutions by 111,056.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,777,778 shares of the company’s stock valued at $460,600,000 after acquiring an additional 21,758,186 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 145.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock valued at $202,037,000 after acquiring an additional 4,268,785 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Zurn Elkay Water Solutions by 33.7% in the 2nd quarter. BlackRock Inc. now owns 11,869,166 shares of the company’s stock valued at $319,162,000 after acquiring an additional 2,994,006 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Zurn Elkay Water Solutions by 2,110.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after acquiring an additional 2,206,508 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Zurn Elkay Water Solutions by 18.4% in the 3rd quarter. Vanguard Group Inc. now owns 13,446,027 shares of the company’s stock valued at $329,428,000 after acquiring an additional 2,085,426 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Zurn Elkay Water Solutions (NYSE:ZWS)

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