Zurn Elkay Water Solutions (NYSE:ZWS) Sets New 1-Year High – Here’s Why

Zurn Elkay Water Solutions Co. (NYSE:ZWS)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $38.23 and last traded at $38.20, with a volume of 251997 shares trading hands. The stock had previously closed at $37.15.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZWS. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. 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 research report on Thursday, August 1st. Mizuho lifted their price target on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Robert W. Baird increased their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.17.

Zurn Elkay Water Solutions Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The firm has a market capitalization of $6.65 billion, a P/E ratio of 49.39, a PEG ratio of 1.88 and a beta of 1.14. The firm’s fifty day moving average price is $35.05 and its 200-day moving average price is $32.47.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The company had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.92%. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is presently 45.57%.

Insider Transactions at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the sale, the director now directly owns 385,017 shares in the company, valued at approximately $12,717,111.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the sale, the director now owns 385,017 shares in the company, valued at $12,717,111.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the transaction, the vice president now owns 80,151 shares in the company, valued at approximately $2,608,915.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,486 shares of company stock valued at $3,338,593 over the last quarter. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in Zurn Elkay Water Solutions by 5.6% in the first quarter. Janney Montgomery Scott LLC now owns 210,295 shares of the company’s stock worth $7,039,000 after acquiring an additional 11,216 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Zurn Elkay Water Solutions during the first quarter valued at approximately $132,000. Envestnet Portfolio Solutions Inc. raised its holdings in Zurn Elkay Water Solutions by 12.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,786 shares of the company’s stock worth $696,000 after acquiring an additional 2,375 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Zurn Elkay Water Solutions in the first quarter worth about $285,000. Finally, Qsemble Capital Management LP bought a new position in Zurn Elkay Water Solutions in the 1st quarter worth approximately $379,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

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.