Zurn Elkay Water Solutions (NYSE:ZWS) Sets New 1-Year High at $34.58

Zurn Elkay Water Solutions Co. (NYSE:ZWS - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $34.58 and last traded at $33.71, with a volume of 270768 shares traded. The stock had previously closed at $33.47.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus lowered shares of Zurn Elkay Water Solutions from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research report on Tuesday, December 19th. KeyCorp lowered shares of Zurn Elkay Water Solutions from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 13th. BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an "outperform" rating and a $40.00 price objective for the company. Finally, Mizuho lowered shares of Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $32.25.

Zurn Elkay Water Solutions Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. The stock has a market capitalization of $5.73 billion, a P/E ratio of 50.89, a PEG ratio of 1.85 and a beta of 1.22. The company's 50 day simple moving average is $31.57 and its two-hundred day simple moving average is $29.47.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $356.80 million for the quarter, compared to analysts' expectations of $350.55 million. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 annualized dividend and a yield of 0.97%. Zurn Elkay Water Solutions's dividend payout ratio is 49.23%.

Insiders Place Their Bets

In other news, insider Michael Troutman sold 897 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.70, for a total transaction of $27,537.90. Following the transaction, the insider now directly owns 43,026 shares in the company, valued at $1,320,898.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael Troutman sold 897 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.70, for a total transaction of $27,537.90. Following the transaction, the insider now directly owns 43,026 shares in the company, valued at $1,320,898.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd A. Adams sold 129,604 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the transaction, the chief executive officer now owns 1,828,550 shares in the company, valued at $60,451,863. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,243 shares of company stock valued at $8,004,982. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several large investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its holdings in Zurn Elkay Water Solutions by 1.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 20,109 shares of the company's stock valued at $591,000 after buying an additional 359 shares during the period. IFP Advisors Inc lifted its holdings in Zurn Elkay Water Solutions by 50.0% in the second quarter. IFP Advisors Inc now owns 1,500 shares of the company's stock valued at $40,000 after buying an additional 500 shares during the period. Gabelli Funds LLC lifted its holdings in Zurn Elkay Water Solutions by 1.5% in the fourth quarter. Gabelli Funds LLC now owns 33,600 shares of the company's stock valued at $711,000 after buying an additional 500 shares during the period. FMR LLC lifted its holdings in Zurn Elkay Water Solutions by 7.3% in the third quarter. FMR LLC now owns 8,153 shares of the company's stock valued at $228,000 after buying an additional 558 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Zurn Elkay Water Solutions by 3.5% in the first quarter. Moneta Group Investment Advisors LLC now owns 19,623 shares of the company's stock valued at $419,000 after buying an additional 660 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

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.