Zurn Elkay Water Solutions Cor (NYSE:ZWS) Reaches New 52-Week High - Here's What Happened

Key Points

• Zurn Elkay Water Solutions Corp (NYSE:ZWS) reached a new 52-week high of $46.67, with the stock last trading at $46.56 and a volume of 484,485 shares.
• Analysts predict that ZWS will post an EPS of 1.36 for the current fiscal year, with a consensus target price averaging around $38.00.
• The company recently announced a quarterly dividend of $0.09 per share, representing an annualized yield of 0.8% and a payout ratio of 35.64%.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $46.67 and last traded at $46.56, with a volume of 484485 shares changing hands. The stock had previously closed at $46.03.

Analyst Ratings Changes

Several brokerages have recently weighed in on ZWS. Stifel Nicolaus lifted their target price on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $38.00.

Zurn Elkay Water Solutions Cor Trading Up 1.4%

The firm has a fifty day moving average price of $41.73 and a 200 day moving average price of $36.81. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 46.22, a P/E/G ratio of 2.47 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The firm had revenue of $444.50 million for the quarter, compared to analysts' expectations of $424.55 million. During the same quarter last year, the business earned $0.33 EPS. The company's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 20th. Zurn Elkay Water Solutions Cor's payout ratio is presently 35.64%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the completion of the sale, the vice president owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy J. Jahnke sold 9,857 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $45.06, for a total transaction of $444,156.42. Following the sale, the director owned 328,964 shares of the company's stock, valued at approximately $14,823,117.84. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,930 shares of company stock worth $6,501,529 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Archer Investment Corp increased its position in shares of Zurn Elkay Water Solutions Cor by 10.0% during the 2nd quarter. Archer Investment Corp now owns 3,300 shares of the company's stock worth $121,000 after purchasing an additional 300 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Zurn Elkay Water Solutions Cor by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 9,777 shares of the company's stock worth $322,000 after purchasing an additional 336 shares in the last quarter. IFP Advisors Inc increased its stake in Zurn Elkay Water Solutions Cor by 12.5% in the second quarter. IFP Advisors Inc now owns 3,058 shares of the company's stock valued at $112,000 after purchasing an additional 339 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 15.6% during the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company's stock valued at $91,000 after buying an additional 341 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Zurn Elkay Water Solutions Cor by 0.3% in the second quarter. California State Teachers Retirement System now owns 134,647 shares of the company's stock valued at $4,924,000 after purchasing an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor 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.

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