Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Raised to $39.00 at Stifel Nicolaus

Zurn Elkay Water Solutions (NYSE:ZWS) had its target price hoisted by Stifel Nicolaus from $38.00 to $39.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 0.76% from the stock’s current price.

A number of other research firms have also recently commented on ZWS. Mizuho increased their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Oppenheimer increased their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of “Moderate Buy” and an average target price of $38.67.

Zurn Elkay Water Solutions Price Performance

NYSE:ZWS traded down $0.43 during mid-day trading on Friday, reaching $38.71. The stock had a trading volume of 96,917 shares, compared to its average volume of 837,027. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. Zurn Elkay Water Solutions has a one year low of $28.25 and a one year high of $41.15. The firm has a 50 day moving average price of $38.58 and a two-hundred day moving average price of $35.38. The stock has a market capitalization of $6.57 billion, a P/E ratio of 49.00, a P/E/G ratio of 1.80 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $406.15 million. During the same quarter last year, the firm posted $0.29 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts expect that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current year.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Jeffrey J. Lavalle sold 3,132 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the sale, the vice president now owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. This trade represents a 8.12 % 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, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the sale, the chief executive officer now owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,202 shares of company stock worth $5,061,558 over the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several hedge funds have recently modified their holdings of ZWS. Impax Asset Management Group plc lifted its position in shares of Zurn Elkay Water Solutions by 4.1% during the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after purchasing an additional 346,412 shares during the last quarter. State Street Corp increased its stake in Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock valued at $195,585,000 after buying an additional 2,119,777 shares during the period. Geode Capital Management LLC raised its holdings in Zurn Elkay Water Solutions by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after purchasing an additional 35,570 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after buying an additional 868,748 shares during the period. Finally, Crescent Grove Advisors LLC grew its holdings in shares of Zurn Elkay Water Solutions by 5.7% in the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company’s stock worth $90,842,000 after acquiring an additional 130,732 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

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.