Zurn Elkay Water Solutions (NYSE:ZWS) Reaches New 52-Week Low - Should You Sell?

Zurn Elkay Water Solutions Co. (NYSE:ZWS - Get Free Report)'s share price reached a new 52-week low on Tuesday . The stock traded as low as $28.18 and last traded at $28.39, with a volume of 1620016 shares trading hands. The stock had previously closed at $29.67.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ZWS shares. BNP Paribas downgraded shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price target for the company. in a report on Wednesday. The Goldman Sachs Group reduced their target price on Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.43.

Zurn Elkay Water Solutions Stock Up 0.7 %

The business has a 50 day simple moving average of $33.82 and a 200 day simple moving average of $36.57. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81.

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Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. As a group, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is currently 39.13%.

Insider Buying and Selling

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the transaction, the insider now directly owns 15,002,819 shares of the company's stock, valued at $504,094,718.40. The trade was a 37.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares in the company, valued at $2,107,272.70. This represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZWS. Barclays PLC raised its holdings 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 purchasing an additional 140,624 shares in the last quarter. Principal Financial Group Inc. raised its stake in 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 in the last quarter. JPMorgan Chase & Co. raised its stake in Zurn Elkay Water Solutions by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company's stock valued at $58,077,000 after buying an additional 329,563 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company's stock worth $117,060,000 after buying an additional 35,570 shares during the last quarter. Finally, Perpetual Ltd boosted its position in shares of Zurn Elkay Water Solutions by 8.4% during the 4th quarter. Perpetual Ltd now owns 214,189 shares of the company's stock worth $7,989,000 after acquiring an additional 16,520 shares in the last quarter. Hedge funds and other institutional investors 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.