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

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

Several other analysts also recently commented on ZWS. Stifel Nicolaus boosted 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 report on Wednesday, October 16th. Oppenheimer boosted their target price on shares of 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. Robert W. Baird upped their price objective on shares of 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 upped 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $38.17.

Zurn Elkay Water Solutions Stock Up 0.6 %

Zurn Elkay Water Solutions stock traded up $0.21 during trading hours on Thursday, hitting $36.11. The company had a trading volume of 1,294,561 shares, compared to its average volume of 1,121,036. The firm has a market capitalization of $6.17 billion, a P/E ratio of 46.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. The firm's fifty day moving average is $34.48 and its 200-day moving average is $32.25. Zurn Elkay Water Solutions has a fifty-two week low of $25.54 and a fifty-two week high of $38.11.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. On average, research analysts forecast that Zurn Elkay Water Solutions will post 1.21 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.00%. Zurn Elkay Water Solutions's dividend payout ratio is 45.57%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 80,151 shares in the company, valued at approximately $2,608,915.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy J. Jahnke sold 10,035 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the transaction, the director now owns 374,982 shares of the company's stock, valued at approximately $13,124,370. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,486 shares of company stock valued at $3,338,593 in the last ninety days. Company insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of hedge funds have recently made changes to their positions in ZWS. Principal Financial Group Inc. increased its position in shares of Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock worth $94,161,000 after purchasing an additional 868,748 shares in the last quarter. Jennison Associates LLC grew its holdings in Zurn Elkay Water Solutions by 68.6% during the 1st quarter. Jennison Associates LLC now owns 1,275,293 shares of the company's stock worth $42,684,000 after acquiring an additional 518,733 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company's stock worth $49,846,000 after acquiring an additional 465,701 shares during the last quarter. Impax Asset Management Group plc grew its holdings in Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company's stock worth $315,645,000 after acquiring an additional 346,412 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in Zurn Elkay Water Solutions by 2.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company's stock worth $386,286,000 after acquiring an additional 265,857 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

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.