Zurn Elkay Water Solutions (NYSE:ZWS) Reaches New 12-Month High at $36.16

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

Analyst Ratings Changes

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

Zurn Elkay Water Solutions Stock Performance

The firm has a market cap of $6.18 billion, a P/E ratio of 50.41, a PEG ratio of 1.92 and a beta of 1.14. 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 company’s 50-day moving average is $32.19 and its two-hundred day moving average is $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. The firm had revenue of $412.00 million during the quarter, compared to analyst estimates of $409.14 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were paid a $0.08 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.88%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

Insider Activity

In related news, Director Timothy J. Jahnke sold 4,086 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the transaction, the director now owns 389,399 shares in the company, valued at $12,854,060.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy J. Jahnke sold 4,086 shares of the stock in a transaction on Wednesday, July 31st. The stock was 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 sold a total of 82,572 shares of company stock valued at $2,721,672 in the last ninety days. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of Zurn Elkay Water Solutions in the second quarter valued at approximately $1,921,000. B. Riley Wealth Advisors Inc. bought a new stake in Zurn Elkay Water Solutions during the 2nd quarter valued at $431,000. Quarry LP boosted its holdings in shares of Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after acquiring an additional 536 shares during the period. 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 acquiring an additional 2,281 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter valued at $433,000. 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.