Stifel Nicolaus Increases Zurn Elkay Water Solutions Cor (NYSE:ZWS) Price Target to $53.00

Key Points

• Stifel Nicolaus raised its target price for Zurn Elkay Water Solutions Corp (NYSE:ZWS) from $50.00 to $53.00, indicating a potential upside of 13.06% from the current price and maintaining a "buy" rating.
• In recent trading, ZWS shares have seen fluctuations, reaching a high of $47.71 and a low of $27.74 over the past year, with a current market cap of $7.85 billion.
• Insider trading activity revealed significant stock sales, with VP Sudhanshu Chhabra selling 108,930 shares and Director Timothy J. Jahnke selling 20,000 shares, resulting in a notable decrease in their ownership stakes.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) had its price target boosted by stock analysts at Stifel Nicolaus from $50.00 to $53.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 10.19% from the stock's current price.

Separately, Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Hold" and a consensus target price of $40.50.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE:ZWS traded up $0.82 on Friday, hitting $48.10. The company had a trading volume of 255,671 shares, compared to its average volume of 998,609. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $48.09. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 47.97, a P/E/G ratio of 2.54 and a beta of 1.07. The stock has a 50 day moving average price of $43.05 and a 200 day moving average price of $37.36. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The firm had revenue of $444.50 million for the quarter, compared to the consensus estimate of $424.55 million. During the same period in the previous year, the company earned $0.33 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $43.73, for a total value of $874,600.00. Following the completion of the transaction, the director owned 180,000 shares of the company's stock, valued at $7,871,400. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the completion of the transaction, the vice president directly owned 94,330 shares of the company's stock, valued at $4,113,731.30. This represents a 53.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 166,774 shares of company stock valued at $7,350,011 in the last three months. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Zurn Elkay Water Solutions Cor by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company's stock valued at $523,094,000 after purchasing an additional 371,635 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Zurn Elkay Water Solutions Cor by 0.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company's stock valued at $448,714,000 after purchasing an additional 42,277 shares during the period. Invesco Ltd. increased its position in Zurn Elkay Water Solutions Cor by 1.9% during the 1st quarter. Invesco Ltd. now owns 5,991,234 shares of the company's stock valued at $197,591,000 after purchasing an additional 110,932 shares during the period. State Street Corp increased its position in Zurn Elkay Water Solutions Cor by 0.6% during the 2nd quarter. State Street Corp now owns 5,381,619 shares of the company's stock valued at $196,806,000 after purchasing an additional 30,483 shares during the period. Finally, Impax Asset Management Group plc increased its position in Zurn Elkay Water Solutions Cor by 22.8% during the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company's stock valued at $180,408,000 after purchasing an additional 916,850 shares during the period. Institutional investors and hedge funds own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor 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.