Oppenheimer Boosts Zurn Elkay Water Solutions (NYSE:ZWS) Price Target to $40.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its target price upped by Oppenheimer from $37.00 to $40.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $37.40.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $36.30 on Tuesday. The firm has a market capitalization of $6.20 billion, a P/E ratio of 46.54, a PEG ratio of 1.96 and a beta of 1.14. The stock has a fifty day moving average price of $34.00 and a 200 day moving average price of $32.11. Zurn Elkay Water Solutions has a 52 week low of $25.09 and a 52 week high of $38.11. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $412.00 million during the quarter, compared to analyst estimates of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share. Equities research analysts anticipate that Zurn Elkay Water Solutions will post 1.21 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 41.03%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now owns 345,017 shares of the company’s stock, valued at $12,969,189.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Timothy J. Jahnke sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the sale, the director now owns 345,017 shares of the company’s stock, valued at approximately $12,969,189.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy J. Jahnke sold 10,035 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total value of $351,225.00. Following the completion of the sale, the director now directly owns 374,982 shares in the company, valued at approximately $13,124,370. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,572 shares of company stock valued at $3,473,472 in the last quarter. Insiders own 3.80% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in Zurn Elkay Water Solutions in the 3rd quarter valued at approximately $2,943,000. Louisiana State Employees Retirement System acquired a new stake in Zurn Elkay Water Solutions in the 3rd quarter valued at approximately $2,494,000. International Assets Investment Management LLC increased its position in Zurn Elkay Water Solutions by 3,475.8% in the 3rd quarter. International Assets Investment Management LLC now owns 35,293 shares of the company’s stock valued at $1,268,000 after acquiring an additional 34,306 shares during the period. Everence Capital Management Inc. acquired a new stake in Zurn Elkay Water Solutions in the 3rd quarter valued at approximately $307,000. Finally, Raymond James & Associates increased its position in Zurn Elkay Water Solutions by 4.5% in the 3rd quarter. Raymond James & Associates now owns 1,433,580 shares of the company’s stock valued at $51,523,000 after acquiring an additional 61,748 shares during the period. Institutional investors own 83.33% of the company’s stock.

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.