Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Lowered to $36.00 at Deutsche Bank Aktiengesellschaft

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

A number of other analysts have also recently commented on the company. BNP Paribas began coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an outperform rating and a $40.00 price objective for the company. Mizuho lowered Zurn Elkay Water Solutions from a buy rating to a neutral rating and set a $34.00 price target for the company. in a report on Friday, February 9th. Finally, Oppenheimer boosted their price target on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an outperform rating in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions currently has an average rating of Hold and an average price target of $33.50.

Zurn Elkay Water Solutions Stock Down 0.7 %

Shares of NYSE:ZWS opened at $31.88 on Thursday. The stock has a fifty day simple moving average of $31.93 and a two-hundred day simple moving average of $29.99. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 44.90, a PEG ratio of 1.79 and a beta of 1.22. Zurn Elkay Water Solutions has a 12-month low of $20.06 and a 12-month high of $34.58. The company has a current ratio of 3.31, a quick ratio of 1.77 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The firm had revenue of $374.00 million during the quarter, compared to analysts’ expectations of $369.43 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company’s revenue was up .5% 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 fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.07%.

Insider Activity at Zurn Elkay Water Solutions

In related news, CFO Mark W. Peterson sold 70,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.88, for a total transaction of $2,301,600.00. Following the completion of the transaction, the chief financial officer now directly owns 302,299 shares of the company’s stock, valued at $9,939,591.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $33.09, for a total transaction of $992,700.00. Following the sale, the director now directly owns 589,275 shares in the company, valued at $19,499,109.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark W. Peterson sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.88, for a total value of $2,301,600.00. Following the sale, the chief financial officer now owns 302,299 shares in the company, valued at $9,939,591.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 741,506 shares of company stock valued at $23,964,936. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock worth $404,041,000 after buying an additional 131,683 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 145.1% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock worth $202,037,000 after buying an additional 4,268,785 shares during the period. Invesco Ltd. raised its holdings in shares of Zurn Elkay Water Solutions by 3.7% in the third quarter. Invesco Ltd. now owns 3,853,230 shares of the company’s stock worth $107,968,000 after buying an additional 138,782 shares during the period. Brown Advisory Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 1.8% in the fourth quarter. Brown Advisory Inc. now owns 2,797,537 shares of the company’s stock worth $82,276,000 after buying an additional 48,695 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Zurn Elkay Water Solutions by 2,110.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock worth $67,968,000 after buying an additional 2,206,508 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.