Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Raised to $37.00 at Deutsche Bank Aktiengesellschaft

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective boosted by equities researchers at Deutsche Bank Aktiengesellschaft from $35.00 to $37.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 18.51% from the stock’s current price.

A number of other analysts have also weighed in on the company. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Hold” and a consensus target price of $35.17.

Zurn Elkay Water Solutions Trading Down 3.8 %

Shares of ZWS traded down $1.24 during mid-day trading on Thursday, reaching $31.22. The company’s stock had a trading volume of 383,610 shares, compared to its average volume of 949,835. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a 52 week low of $25.09 and a 52 week high of $34.58. The company’s fifty day moving average price is $30.60 and its two-hundred day moving average price is $31.24. The stock has a market cap of $5.39 billion, a PE ratio of 43.90, a P/E/G ratio of 1.78 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $412.00 million for the quarter, compared to analysts’ expectations of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.79% and a net margin of 8.80%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. On average, analysts predict that Zurn Elkay Water Solutions will post 1.18 earnings per share for the current fiscal year.

Insider Transactions at Zurn Elkay Water Solutions

In other news, major shareholder Aimee Katz sold 8,240 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $29.14, for a total transaction of $240,113.60. Following the completion of the transaction, the insider now directly owns 23,565,924 shares in the company, valued at $686,711,025.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Aimee Katz sold 8,240 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $29.14, for a total transaction of $240,113.60. Following the completion of the transaction, the insider now directly owns 23,565,924 shares in the company, valued at $686,711,025.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ice Mountain Llc sold 48,388 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $32.97, for a total transaction of $1,595,352.36. Following the completion of the transaction, the insider now owns 24,220,544 shares in the company, valued at approximately $798,551,335.68. The disclosure for this sale can be found here. Insiders have sold 251,442 shares of company stock valued at $7,716,844 in the last three months. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several institutional investors and hedge funds have recently made changes to their positions in ZWS. Wells Fargo & Company MN raised its position in Zurn Elkay Water Solutions by 2,110.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock worth $67,968,000 after buying an additional 2,206,508 shares during the last quarter. Norges Bank purchased a new position in shares of Zurn Elkay Water Solutions during the fourth quarter valued at approximately $39,532,000. Jennison Associates LLC lifted its position in Zurn Elkay Water Solutions by 68.6% during the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock valued at $42,684,000 after purchasing an additional 518,733 shares during the period. Stifel Financial Corp grew its position in Zurn Elkay Water Solutions by 3,236.0% in the 4th quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock worth $14,889,000 after purchasing an additional 491,093 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Zurn Elkay Water Solutions by 2,065.2% during the 4th quarter. Victory Capital Management Inc. now owns 476,854 shares of the company’s stock valued at $14,024,000 after buying an additional 454,830 shares during the last quarter. Institutional investors 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.