Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Raised to $39.00 at Robert W. Baird

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective hoisted by Robert W. Baird from $37.00 to $39.00 in a research note published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on ZWS. Oppenheimer boosted their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.17.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock opened at $37.08 on Thursday. The stock has a market cap of $6.29 billion, a PE ratio of 46.94, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The stock has a 50-day moving average of $34.66 and a 200-day moving average of $32.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.75. Zurn Elkay Water Solutions has a one year low of $27.55 and a one year high of $38.11.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same period last year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Zurn Elkay Water Solutions will post 1.23 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. This is a boost 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 annualized dividend and a yield of 0.97%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.57%.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now directly owns 345,017 shares of the company’s stock, valued at $12,969,189.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,486 shares of company stock valued at $3,338,593. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after acquiring an additional 868,748 shares in the last quarter. Amalgamated Bank increased its stake in shares of Zurn Elkay Water Solutions by 714.9% during the 3rd quarter. Amalgamated Bank now owns 42,368 shares of the company’s stock worth $1,523,000 after purchasing an additional 37,169 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Zurn Elkay Water Solutions by 4.1% in the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after purchasing an additional 346,412 shares during the period. Fernwood Investment Management LLC acquired a new stake in Zurn Elkay Water Solutions in the 3rd quarter valued at about $539,000. Finally, Janney Montgomery Scott LLC grew its holdings in Zurn Elkay Water Solutions by 0.3% during the third quarter. Janney Montgomery Scott LLC now owns 209,209 shares of the company’s stock worth $7,519,000 after purchasing an additional 700 shares during the period. 83.33% of the stock is owned by 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.