The Goldman Sachs Group Cuts Zurn Elkay Water Solutions (NYSE:ZWS) Price Target to $34.00

Zurn Elkay Water Solutions (NYSE:ZWS - Free Report) had its price objective trimmed by The Goldman Sachs Group from $39.00 to $34.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $37.67.

Zurn Elkay Water Solutions Price Performance

NYSE ZWS traded down $0.05 on Wednesday, reaching $29.60. 1,983,209 shares of the stock traded hands, compared to its average volume of 1,096,068. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The firm's fifty day simple moving average is $35.22 and its 200 day simple moving average is $36.86. Zurn Elkay Water Solutions has a 12 month low of $28.25 and a 12 month high of $41.15. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 2.01 and a beta of 1.08.

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Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. As a group, research analysts predict that Zurn Elkay Water Solutions will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 39.13%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 8,390 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the transaction, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. This represents a 12.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now owns 15,002,819 shares of the company's stock, valued at $504,094,718.40. The trade was a 37.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Institutional Trading of Zurn Elkay Water Solutions

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company's stock worth $35,000 after buying an additional 544 shares in the last quarter. Atala Financial Inc bought a new position in Zurn Elkay Water Solutions in the fourth quarter valued at about $44,000. Tsfg LLC acquired a new stake in Zurn Elkay Water Solutions in the fourth quarter worth about $56,000. Tortoise Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock worth $65,000 after purchasing an additional 755 shares during the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new position in Zurn Elkay Water Solutions during the 4th quarter valued at about $82,000. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Company Profile

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.