Zurn Elkay Water Solutions (NYSE:ZWS) Sees Strong Trading Volume - Still a Buy?

Zurn Elkay Water Solutions Co. (NYSE:ZWS - Get Free Report) shares saw strong trading volume on Wednesday . 1,121,631 shares were traded during mid-day trading, an increase of 25% from the previous session's volume of 896,281 shares.The stock last traded at $35.90 and had previously closed at $36.88.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Oppenheimer raised their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their target price on shares of 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. Mizuho increased their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Robert W. Baird increased 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 note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.67.

Zurn Elkay Water Solutions Trading Down 1.5 %

The business's 50 day simple moving average is $38.06 and its 200 day simple moving average is $36.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The stock has a market cap of $6.01 billion, a P/E ratio of 38.51, a PEG ratio of 1.78 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.01% and a net margin of 10.23%. On average, analysts expect that Zurn Elkay Water Solutions Co. will post 1.35 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Thursday, February 20th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 39.13%.

Institutional Trading of Zurn Elkay Water Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the business. Impax Asset Management Group plc raised its position in shares of Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company's stock valued at $315,645,000 after acquiring an additional 346,412 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Zurn Elkay Water Solutions by 26.8% during the 4th quarter. Invesco Ltd. now owns 5,880,302 shares of the company's stock worth $219,335,000 after buying an additional 1,242,642 shares during the last quarter. State Street Corp boosted its stake in shares of Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company's stock worth $195,585,000 after buying an additional 2,119,777 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Zurn Elkay Water Solutions by 184.0% during the 4th quarter. First Trust Advisors LP now owns 3,556,599 shares of the company's stock worth $132,661,000 after buying an additional 2,304,285 shares during the last quarter. Finally, Beck Mack & Oliver LLC raised its holdings in shares of Zurn Elkay Water Solutions by 0.5% in the 4th quarter. Beck Mack & Oliver LLC now owns 3,485,566 shares of the company's stock valued at $130,012,000 after purchasing an additional 17,090 shares during the period. 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.