Zurn Elkay Water Solutions (NYSE:ZWS) Reaches New 12-Month High – What’s Next?

Zurn Elkay Water Solutions Co. (NYSE:ZWS) shares reached a new 52-week high on Monday . The stock traded as high as $40.85 and last traded at $40.82, with a volume of 209924 shares traded. The stock had previously closed at $40.41.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZWS. Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday. Mizuho boosted their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird increased their price target 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. Finally, Oppenheimer boosted their price objective on 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.50.

Zurn Elkay Water Solutions Price Performance

The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 51.51, a P/E/G ratio of 2.05 and a beta of 1.14. The company has a 50 day simple moving average of $38.16 and a 200-day simple moving average of $33.75. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. Research analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were given a $0.09 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.57%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction on Thursday, September 12th. The shares were 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 owns 80,151 shares in the company, valued at $2,608,915.05. This trade represents a 39.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the transaction, the chief financial officer now owns 47,572 shares in the company, valued at $1,862,443.80. This represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,088 shares of company stock worth $7,884,883. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Hedge funds have recently bought and sold shares of the company. Tortoise Investment Management LLC raised its stake in Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after buying an additional 373 shares during the period. Quarry LP increased its holdings in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after acquiring an additional 536 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Zurn Elkay Water Solutions in the 2nd quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in Zurn Elkay Water Solutions during the third quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after purchasing an additional 1,267 shares during the period. 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.