Deutsche Bank Aktiengesellschaft Lowers Zurn Elkay Water Solutions (NYSE:ZWS) Price Target to $36.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $37.00 to $36.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also commented on ZWS. Oppenheimer upped their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an outperform rating in a report on Friday, April 12th. BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an outperform rating and a $40.00 price objective for the company. Finally, Mizuho lowered shares of Zurn Elkay Water Solutions from a buy rating to a neutral rating and set a $34.00 price objective for the company. in a report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $33.50.

Zurn Elkay Water Solutions Trading Down 0.6 %

Shares of ZWS opened at $31.70 on Thursday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 44.65, a PEG ratio of 1.74 and a beta of 1.22. The company has a quick ratio of 1.77, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $31.95 and a two-hundred day simple moving average of $30.05. Zurn Elkay Water Solutions has a twelve month low of $20.06 and a twelve month high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $374.00 million during the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. On average, research analysts anticipate that Zurn Elkay Water Solutions will post 1.17 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were paid a $0.08 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Insider Buying and Selling

In related news, CFO Mark W. Peterson sold 70,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.88, for a total value of $2,301,600.00. Following the completion of the transaction, the chief financial officer now directly owns 302,299 shares in the company, valued at approximately $9,939,591.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Mark W. Peterson sold 70,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.88, for a total value of $2,301,600.00. Following the completion of the transaction, the chief financial officer now directly owns 302,299 shares in the company, valued at approximately $9,939,591.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ice Mountain Llc sold 50,172 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the completion of the transaction, the insider now owns 24,998,760 shares of the company’s stock, valued at $804,460,096.80. The disclosure for this sale can be found here. Insiders sold a total of 741,506 shares of company stock worth $23,964,936 in the last three months. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Zurn Elkay Water Solutions

Several institutional investors have recently bought and sold shares of ZWS. Principal Securities Inc. purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at about $34,000. Benjamin Edwards Inc. purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at about $42,000. IFP Advisors Inc grew its position in Zurn Elkay Water Solutions by 70.9% during the 3rd quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock valued at $72,000 after purchasing an additional 1,064 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at about $76,000. Finally, Assetmark Inc. grew its position in Zurn Elkay Water Solutions by 32.9% during the 4th quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock valued at $85,000 after purchasing an additional 718 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

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.