Oppenheimer Forecasts Strong Price Appreciation for Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Key Points

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Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) had its price target increased by Oppenheimer from $48.00 to $52.00 in a report published on Wednesday morning, MarketBeat.com reports. Oppenheimer currently has an outperform rating on the stock.

Separately, Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $40.50.

Zurn Elkay Water Solutions Cor Stock Down 2.1%

Shares of Zurn Elkay Water Solutions Cor stock traded down $1.02 during trading on Wednesday, reaching $46.92. 3,107,833 shares of the company traded hands, compared to its average volume of 952,773. The firm has a market capitalization of $7.86 billion, a PE ratio of 46.46, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a 50 day moving average price of $43.62 and a 200-day moving average price of $37.63. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $48.42.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.64%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.73, for a total transaction 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. The trade was a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction 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 sale, the vice president directly owned 94,330 shares in the company, valued at $4,113,731.30. This trade represents a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,930 shares of company stock valued at $7,452,507. Corporate 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 business. Norges Bank acquired a new position in Zurn Elkay Water Solutions Cor in the second quarter worth about $64,266,000. Zimmer Partners LP bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth about $50,344,000. 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 worth $180,408,000 after purchasing an additional 916,850 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 74.1% in the first quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company's stock valued at $56,577,000 after purchasing an additional 729,920 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the first quarter valued at approximately $21,273,000. 83.33% of the stock is owned by institutional investors and hedge funds.

About Zurn Elkay Water Solutions Cor

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.