Zurn Elkay Water Solutions (NYSE:ZWS) PT Lowered to $36.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $37.00 to $36.00 in a report released on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other research analysts also recently issued reports on ZWS. Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an outperform rating in a research report on Friday, April 12th. BNP Paribas began 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 objective on the stock. Finally, Mizuho downgraded shares of Zurn Elkay Water Solutions from a buy rating to a neutral rating and set a $34.00 target price on the stock. in a report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of Hold and a consensus target price of $33.50.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE:ZWS opened at $31.70 on Thursday. The company’s fifty day moving average price is $31.95 and its 200 day moving average price is $30.07. Zurn Elkay Water Solutions has a 12 month low of $20.06 and a 12 month high of $34.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.77. The firm has a market capitalization of $5.47 billion, a P/E ratio of 44.65, a P/E/G ratio of 1.73 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The firm had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. During the same period last year, the business earned $0.18 EPS. Zurn Elkay Water Solutions’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts predict that Zurn Elkay Water Solutions will post 1.18 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, February 16th. Zurn Elkay Water Solutions’s payout ratio is currently 45.07%.

Insiders Place Their Bets

In other news, insider Michael Troutman sold 897 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.70, for a total value of $27,537.90. Following the completion of the transaction, the insider now owns 43,026 shares of the company’s stock, valued at $1,320,898.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Ice Mountain Llc sold 249,582 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the transaction, the insider now owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Troutman sold 897 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.70, for a total transaction of $27,537.90. Following the completion of the sale, the insider now owns 43,026 shares of the company’s stock, valued at $1,320,898.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 741,506 shares of company stock worth $23,964,936. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its stake in Zurn Elkay Water Solutions by 70.9% during the third quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock worth $72,000 after buying an additional 1,064 shares during the period. SG Americas Securities LLC grew its stake in Zurn Elkay Water Solutions by 368.9% during the third quarter. SG Americas Securities LLC now owns 35,475 shares of the company’s stock worth $994,000 after buying an additional 27,910 shares during the period. Cannon Global Investment Management LLC purchased a new stake in Zurn Elkay Water Solutions during the third quarter worth approximately $280,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Zurn Elkay Water Solutions by 1.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,339 shares of the company’s stock worth $2,223,000 after buying an additional 982 shares during the period. Finally, Strs Ohio grew its stake in Zurn Elkay Water Solutions by 19.0% during the third quarter. Strs Ohio now owns 13,800 shares of the company’s stock worth $386,000 after buying an additional 2,200 shares during the period. 83.33% of the stock is currently 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.