Zurn Elkay Water Solutions (NYSE:ZWS) Shares Down 5.2% - Time to Sell?

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Get Free Report) were down 5.2% during mid-day trading on Wednesday . The company traded as low as $37.87 and last traded at $37.38. Approximately 348,308 shares were traded during trading, a decline of 59% from the average daily volume of 855,363 shares. The stock had previously closed at $39.41.

Analyst Ratings Changes

ZWS has been the subject of a number of research analyst reports. Mizuho boosted their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Robert W. Baird lifted their price target 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. Finally, Oppenheimer boosted their price target 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. Three investment 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.com, Zurn Elkay Water Solutions has an average rating of "Moderate Buy" and an average price target of $38.67.

Zurn Elkay Water Solutions Price Performance

The firm has a market cap of $6.48 billion, a P/E ratio of 41.51, a P/E/G ratio of 1.78 and a beta of 1.15. The company has a fifty day moving average of $38.46 and a 200-day moving average of $36.06. 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 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 net margin of 10.23% and a return on equity of 14.01%. On average, sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.35 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Thursday, February 20th will be paid a $0.09 dividend. The ex-dividend date is Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.94%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 39.13%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of hedge funds have recently made changes to their positions in ZWS. Barclays PLC raised its position in Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company's stock worth $10,952,000 after acquiring an additional 140,624 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock worth $94,161,000 after purchasing an additional 868,748 shares during the period. Global Alpha Capital Management Ltd. lifted its stake in Zurn Elkay Water Solutions by 23.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company's stock valued at $3,323,000 after purchasing an additional 17,350 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Zurn Elkay Water Solutions by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company's stock valued at $58,077,000 after purchasing an additional 329,563 shares during the period. Finally, Geode Capital Management LLC increased its position in Zurn Elkay Water Solutions by 1.1% in the third 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. 83.33% of the stock is currently owned by institutional investors.

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.