Zurn Elkay Water Solutions (NYSE:ZWS) Downgraded to "Neutral" Rating by BNP Paribas

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) was downgraded by research analysts at BNP Paribas from an "outperform" rating to a "neutral" rating in a note issued to investors on Wednesday, Marketbeat reports. They presently have a $29.00 price objective on the stock. BNP Paribas' price objective indicates a potential downside of 0.82% from the company's current price.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $36.43.

Zurn Elkay Water Solutions Price Performance

ZWS stock traded down $0.17 during trading on Wednesday, reaching $29.24. 229,229 shares of the company were exchanged, compared to its average volume of 1,110,501. The company has a 50-day moving average of $33.82 and a two-hundred day moving average of $36.58. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. Zurn Elkay Water Solutions has a twelve month low of $27.74 and a twelve month high of $41.15.

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Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates 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, equities analysts predict that Zurn Elkay Water Solutions will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was 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 in the company, valued at $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. This represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of hedge funds have recently added to or reduced their stakes in ZWS. GAMMA Investing LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company's stock valued at $35,000 after purchasing an additional 544 shares in the last quarter. Atala Financial Inc bought a new position in Zurn Elkay Water Solutions during the 4th quarter valued at $44,000. Tsfg LLC purchased a new position in Zurn Elkay Water Solutions during the 4th quarter worth $56,000. Tortoise Investment Management LLC boosted 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 acquiring an additional 755 shares during the last quarter. Finally, Caisse Des Depots ET Consignations bought a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter worth $82,000. Institutional investors and hedge funds own 83.33% of the company's stock.

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.