Zurn Elkay Water Solutions (NYSE:ZWS) Reaches New 52-Week High at $36.16

Zurn Elkay Water Solutions Co. (NYSE:ZWS)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $36.16 and last traded at $36.09, with a volume of 150430 shares trading hands. The stock had previously closed at $35.79.

Analysts Set New Price Targets

ZWS has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped 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 reiterated an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Finally, Stifel Nicolaus upped their target price 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.17.

Zurn Elkay Water Solutions Stock Up 1.1 %

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 firm has a market capitalization of $6.18 billion, a PE ratio of 50.41, a PEG ratio of 1.92 and a beta of 1.14. The stock has a 50 day simple moving average of $32.19 and a 200 day simple moving average of $31.65.

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

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the transaction, the director now owns 385,017 shares in the company, valued at $12,717,111.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the sale, the director now owns 385,017 shares in the company, valued at $12,717,111.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total value of $134,878.86. Following the transaction, the director now owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. The disclosure for this sale can be found here. Insiders have sold 82,572 shares of company stock worth $2,721,672 over the last ninety days. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Zurn Elkay Water Solutions

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock valued at $404,041,000 after purchasing an additional 131,683 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Zurn Elkay Water Solutions by 2.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after buying an additional 265,857 shares during the period. Crescent Grove Advisors LLC lifted its position in shares of Zurn Elkay Water Solutions by 8.4% during the 1st quarter. Crescent Grove Advisors LLC now owns 2,304,715 shares of the company’s stock valued at $77,139,000 after buying an additional 178,861 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Zurn Elkay Water Solutions by 24.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock valued at $51,485,000 after acquiring an additional 339,892 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Zurn Elkay Water Solutions by 37.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after purchasing an additional 465,701 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

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.