Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Raised to $37.00 at Mizuho

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective boosted by Mizuho from $34.00 to $37.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

ZWS has been the subject of a number of other reports. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Oppenheimer upped their price target on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Robert W. Baird lifted their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average price target of $38.17.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS opened at $36.11 on Thursday. Zurn Elkay Water Solutions has a 12-month low of $25.54 and a 12-month high of $38.11. 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 has a market cap of $6.13 billion, a PE ratio of 45.71, a price-to-earnings-growth ratio of 1.93 and a beta of 1.14. The stock has a 50-day moving average price of $34.57 and a 200-day moving average price of $32.28.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that Zurn Elkay Water Solutions will post 1.21 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. Investors of record on Wednesday, November 20th will be paid a $0.09 dividend. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.00%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 40.51%.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the sale, the director now owns 385,017 shares in the company, valued at approximately $12,717,111.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at $2,608,915.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 15,600 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the sale, the director now owns 385,017 shares of the company’s stock, valued at $12,717,111.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,486 shares of company stock worth $3,338,593 over the last 90 days. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. increased its holdings in Zurn Elkay Water Solutions by 11.1% in the 2nd quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock worth $6,209,000 after acquiring an additional 21,081 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Zurn Elkay Water Solutions by 209.9% during the second quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock worth $2,411,000 after purchasing an additional 55,970 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Zurn Elkay Water Solutions during the second quarter valued at $431,000. AQR Capital Management LLC purchased a new stake in Zurn Elkay Water Solutions in the 2nd quarter valued at about $1,068,000. Finally, Epoch Investment Partners Inc. bought a new stake in shares of Zurn Elkay Water Solutions during the first quarter valued at approximately $7,674,000. 83.33% of the stock is owned by 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.