Zurn Elkay Water Solutions (NYSE:ZWS) Sets New 12-Month High - Time to Buy?

Zurn Elkay Water Solutions Co. (NYSE:ZWS - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $36.87 and last traded at $36.86, with a volume of 433351 shares trading hands. The stock had previously closed at $36.52.

Wall Street Analyst Weigh In

ZWS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Oppenheimer reaffirmed an "outperform" rating and set a $37.00 target price on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Finally, Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a "hold" rating in a research note on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.

Zurn Elkay Water Solutions Trading Up 1.0 %

The company has a quick ratio of 1.75, a current ratio of 2.84 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.37 billion, a P/E ratio of 51.70, a PEG ratio of 1.93 and a beta of 1.14. The business's 50 day simple moving average is $32.93 and its two-hundred day simple moving average is $31.87.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The company had revenue of $412.00 million for the quarter, compared to analysts' expectations of $409.14 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Zurn Elkay Water Solutions's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts expect that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. Zurn Elkay Water Solutions's dividend payout ratio is 45.07%.

Insider Buying and Selling

In related news, Director Timothy J. Jahnke sold 4,086 shares of the business's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total value of $134,878.86. Following the sale, the director now owns 389,399 shares of the company's stock, valued at $12,854,060.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the company's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the sale, the director now owns 389,399 shares of the company's stock, valued at approximately $12,854,060.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy J. Jahnke sold 10,035 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the sale, the director now directly owns 374,982 shares in the company, valued at $13,124,370. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,572 shares of company stock valued at $2,721,672 over the last 90 days. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company's stock valued at $404,041,000 after purchasing an additional 131,683 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 2.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company's stock worth $386,286,000 after acquiring an additional 265,857 shares during the last quarter. Crescent Grove Advisors LLC raised its holdings in shares of Zurn Elkay Water Solutions by 8.4% in the 1st quarter. Crescent Grove Advisors LLC now owns 2,304,715 shares of the company's stock worth $77,139,000 after acquiring an additional 178,861 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 24.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company's stock worth $51,485,000 after acquiring an additional 339,892 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Zurn Elkay Water Solutions by 37.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company's stock worth $49,846,000 after acquiring an additional 465,701 shares during the last quarter. Institutional investors and hedge funds 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.

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