Zurn Elkay Water Solutions Cor (NYSE:ZWS) Price Target Raised to $59.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target to $59 (from $53) and kept a "buy" rating on Zurn Elkay, implying roughly a 13.1% upside from the prior close.
• The company beat quarterly estimates, reporting $0.41 EPS versus $0.37 expected and $433 million in revenue (vs. ~$419 million), with revenue up 11.4% year‑over‑year.
• Significant institutional accumulation — led by AllianceBernstein and a new ~ $111M position from Norges Bank — has lifted institutional ownership to about 83.33%.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) had its price objective upped by investment analysts at Stifel Nicolaus from $53.00 to $59.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price target indicates a potential upside of 13.10% from the company's previous close.

A number of other analysts have also recently weighed in on the stock. UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday. Weiss Ratings reissued a "buy (b-)" rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Royal Bank Of Canada restated a "sector perform" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Oppenheimer reaffirmed an "outperform" rating and set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday. Finally, Robert W. Baird decreased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of "Moderate Buy" and an average target price of $54.75.

Zurn Elkay Water Solutions Cor Stock Down 0.6%

Shares of NYSE ZWS traded down $0.32 during mid-day trading on Thursday, reaching $52.17. 418,190 shares of the company were exchanged, compared to its average volume of 1,061,443. Zurn Elkay Water Solutions Cor has a 1 year low of $32.23 and a 1 year high of $53.70. The firm has a 50-day moving average of $47.72 and a 200 day moving average of $47.39. The stock has a market cap of $8.74 billion, a price-to-earnings ratio of 42.07, a P/E/G ratio of 2.00 and a beta of 1.07. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.45% and a net margin of 12.26%.The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, research analysts expect that Zurn Elkay Water Solutions Cor will post 1.66 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO David J. Pauli sold 812 shares of the business's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $51.61, for a total transaction of $41,907.32. Following the sale, the chief financial officer directly owned 65,995 shares of the company's stock, valued at $3,406,001.95. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey J. Lavalle sold 946 shares of the firm's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total value of $48,841.98. Following the completion of the transaction, the vice president owned 51,868 shares of the company's stock, valued at $2,677,944.84. This trade represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 599,259 shares of company stock worth $31,225,361 over the last ninety days. Company insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 1,714.8% during the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company's stock worth $158,478,000 after purchasing an additional 3,184,048 shares during the period. Norges Bank purchased a new position in Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $111,341,000. First Trust Advisors LP lifted its stake in Zurn Elkay Water Solutions Cor by 51.9% during the 4th quarter. First Trust Advisors LP now owns 3,303,735 shares of the company's stock valued at $153,591,000 after acquiring an additional 1,128,917 shares during the period. Goldman Sachs Group Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 78.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company's stock valued at $42,161,000 after acquiring an additional 399,180 shares during the period. Finally, MAI Capital Management boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 120,771.6% in the 3rd quarter. MAI Capital Management now owns 293,718 shares of the company's stock valued at $13,814,000 after acquiring an additional 293,475 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.