Zurn Elkay Water Solutions (NYSE:ZWS) Reaches New 52-Week High – Time to Buy?

Zurn Elkay Water Solutions Co. (NYSE:ZWS) hit a new 52-week high on Tuesday . The company traded as high as $40.74 and last traded at $40.20, with a volume of 11333 shares trading hands. The stock had previously closed at $40.28.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ZWS shares. Oppenheimer raised 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 note on Tuesday, October 22nd. Mizuho lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird boosted their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.17.

Zurn Elkay Water Solutions Trading Down 0.9 %

The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 51.00, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $37.41 and a two-hundred day moving average of $33.34.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a $0.09 dividend. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.57%.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 4,070 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the transaction, the chief financial officer now owns 47,572 shares in the company, valued at $1,862,443.80. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 approximately $2,608,915.05. This represents a 39.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,688 shares of company stock valued at $8,400,151. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of hedge funds have recently made changes to their positions in ZWS. Virtu Financial LLC acquired a new stake in Zurn Elkay Water Solutions during the 3rd quarter valued at $234,000. Teachers Retirement System of The State of Kentucky grew its holdings in Zurn Elkay Water Solutions by 23.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock worth $2,239,000 after acquiring an additional 11,732 shares during the period. Geode Capital Management LLC increased its holdings in Zurn Elkay Water Solutions by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock valued at $117,060,000 after purchasing an additional 35,570 shares during the last quarter. Barclays PLC raised its position in shares of Zurn Elkay Water Solutions by 85.7% in the 3rd quarter. Barclays PLC now owns 304,731 shares of the company’s stock valued at $10,952,000 after acquiring an additional 140,624 shares during the period. Finally, MML Investors Services LLC boosted its position in shares of Zurn Elkay Water Solutions by 2.5% during the third quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock worth $650,000 after purchasing an additional 449 shares in the last quarter. 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.