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

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

Wall Street Analyst Weigh In

ZWS has been the topic of several recent research reports. Mizuho raised their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price target 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. Robert W. Baird raised their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Oppenheimer lifted their target price 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. Finally, Stifel Nicolaus increased their price target 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average target price of $38.17.

Zurn Elkay Water Solutions Stock Performance

The firm has a market cap of $6.56 billion, a PE ratio of 47.91, a PEG ratio of 1.88 and a beta of 1.14. The firm’s 50 day simple moving average is $34.76 and its 200 day simple moving average is $32.37. 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 quarterly earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $406.15 million. During the same period 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. On average, research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s payout ratio is currently 40.51%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Timothy J. Jahnke sold 15,600 shares of Zurn Elkay Water Solutions stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the transaction, the director now directly owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction dated 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 completion of the sale, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,486 shares of company stock worth $3,338,593 over the last 90 days. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Bleakley Financial Group LLC lifted its position in shares of Zurn Elkay Water Solutions by 1.3% during the third quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock worth $750,000 after purchasing an additional 269 shares during the last quarter. Tortoise Investment Management LLC increased its position in shares of Zurn Elkay Water Solutions by 76.7% during the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after acquiring an additional 373 shares during the period. MJP Associates Inc. ADV boosted its holdings in shares of Zurn Elkay Water Solutions by 5.5% in the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock valued at $300,000 after purchasing an additional 534 shares during the period. Quarry LP grew its stake in 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 purchasing an additional 536 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Zurn Elkay Water Solutions by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock worth $1,203,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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.