The Goldman Sachs Group Lowers Zurn Elkay Water Solutions (NYSE:ZWS) Price Target to $34.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its target price lowered by The Goldman Sachs Group from $39.00 to $34.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 1.04% from the company’s previous close.

Separately, Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, January 24th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.67.

Zurn Elkay Water Solutions Trading Up 1.5 %

Shares of Zurn Elkay Water Solutions stock traded up $0.49 on Wednesday, reaching $33.65. The company had a trading volume of 230,091 shares, compared to its average volume of 1,079,538. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 36.58, a P/E/G ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions has a 1 year low of $28.25 and a 1 year high of $41.15. The firm’s 50-day moving average price is $35.68 and its two-hundred day moving average price is $36.92.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. As a group, research analysts predict that Zurn Elkay Water Solutions will post 1.36 earnings per share for the current fiscal year.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David J. Pauli sold 8,390 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the sale, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Hedge funds have recently bought and sold shares of the business. First Trust Advisors LP raised its stake in shares of Zurn Elkay Water Solutions by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company’s stock worth $132,661,000 after buying an additional 2,304,285 shares during the period. Raymond James Financial Inc. acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth $80,457,000. State Street Corp lifted its holdings in Zurn Elkay Water Solutions by 63.8% during the third quarter. State Street Corp now owns 5,441,980 shares of the company’s stock valued at $195,585,000 after purchasing an additional 2,119,777 shares in the last quarter. Norges Bank acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter valued at about $61,412,000. Finally, Invesco Ltd. grew its position in shares of Zurn Elkay Water Solutions by 26.8% in the fourth quarter. Invesco Ltd. now owns 5,880,302 shares of the company’s stock valued at $219,335,000 after purchasing an additional 1,242,642 shares during the period. Hedge funds and other 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.