Zurn Elkay Water Solutions (NYSE:ZWS) Sets New 52-Week High at $34.94

Zurn Elkay Water Solutions Co. (NYSE:ZWS)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $34.94 and last traded at $34.70, with a volume of 1026943 shares. The stock had previously closed at $33.80.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ZWS shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer reissued an “outperform” rating and issued a $37.00 price target on shares of Zurn Elkay Water Solutions in a report on Thursday, September 12th. Finally, Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.17.

Zurn Elkay Water Solutions Trading Up 0.9 %

The firm has a 50-day moving average of $31.37 and a 200 day moving average of $31.42. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 47.61, a PEG ratio of 1.75 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $412.00 million for the quarter, compared to analyst estimates of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Insider Activity

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the sale, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Aimee Katz sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $29.04, for a total value of $2,904,000.00. Following the sale, the insider now directly owns 23,574,164 shares in the company, valued at approximately $684,593,722.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the sale, the vice president now owns 80,151 shares of the company’s stock, valued at $2,608,915.05. The disclosure for this sale can be found here. Insiders sold 217,715 shares of company stock worth $6,638,953 over the last three months. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Zurn Elkay Water Solutions during the second quarter worth $1,921,000. B. Riley Wealth Advisors Inc. acquired a new stake in Zurn Elkay Water Solutions during the 2nd quarter worth about $431,000. Quarry LP lifted its stake in Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares in the last quarter. Creative Planning boosted its holdings in shares of Zurn Elkay Water Solutions by 17.8% in the second quarter. Creative Planning now owns 15,101 shares of the company’s stock worth $444,000 after buying an additional 2,281 shares during the period. Finally, Algert Global LLC purchased a new position in shares of Zurn Elkay Water Solutions in the second quarter worth approximately $433,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions 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.