Zurn Elkay Water Solutions (NYSE:ZWS) Hits New 1-Year High - What's Next?

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

Analyst Ratings Changes

Several brokerages recently issued reports on ZWS. Oppenheimer lifted 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 report on Tuesday, October 22nd. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Mizuho lifted their price objective on shares of 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 boosted their target price 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. Finally, Robert W. Baird boosted their target price 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of "Hold" and a consensus price target of $38.17.

Zurn Elkay Water Solutions Stock Up 3.6 %

The firm has a market cap of $6.53 billion, a PE ratio of 48.71, a PEG ratio of 1.88 and a beta of 1.14. The business's 50 day moving average price is $34.89 and its 200 day moving average price is $32.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 8.87% and a return on equity of 13.30%. The company's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. On average, equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently declared 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 a boost 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 0.94%. Zurn Elkay Water Solutions's dividend payout ratio is 40.51%.

Insider Activity

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the sale, the director now directly owns 385,017 shares in the company, valued at $12,717,111.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Timothy J. Jahnke sold 15,600 shares of Zurn Elkay Water Solutions stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the sale, the director now directly owns 385,017 shares in the company, valued at $12,717,111.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions 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 completion of the transaction, the director now owns 374,982 shares in the company, valued at approximately $13,124,370. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,486 shares of company stock valued at $3,338,593 in the last 90 days. Company insiders own 3.00% of the company's stock.

Institutional Trading of Zurn Elkay Water Solutions

A number of institutional investors have recently added to or reduced their stakes in ZWS. Principal Financial Group Inc. raised its position in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock valued at $94,161,000 after buying an additional 868,748 shares during the last quarter. Jennison Associates LLC increased its position in shares of Zurn Elkay Water Solutions by 68.6% in the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company's stock worth $42,684,000 after acquiring an additional 518,733 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Zurn Elkay Water Solutions by 37.9% in the second 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 in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Zurn Elkay Water Solutions by 4.1% in the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company's stock valued at $315,645,000 after purchasing an additional 346,412 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Zurn Elkay Water Solutions by 2.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company's stock valued at $386,286,000 after purchasing an additional 265,857 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.