Zurn Elkay Water Solutions Cor (NYSE:ZWS) Hits New 12-Month High - What's Next?

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)'s share price hit a new 52-week high during mid-day trading 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ZWS shares. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $38.50.

Zurn Elkay Water Solutions Cor Trading Down 1.3%

The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 46.20, a price-to-earnings-growth ratio of 2.54 and a beta of 1.07. The firm's 50 day moving average is $42.65 and its two-hundred day moving average is $37.18. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released 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. The firm had revenue of $444.50 million for the quarter, compared to analyst estimates of $424.55 million. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. Zurn Elkay Water Solutions Cor's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. Equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Insider Activity

In related news, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the sale, the vice president owned 94,330 shares in the company, valued at $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 17,844 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $47.55, for a total transaction of $848,482.20. Following the completion of the transaction, the director owned 311,120 shares of the company's stock, valued at approximately $14,793,756. This trade represents a 5.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 166,774 shares of company stock worth $7,350,011. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in Zurn Elkay Water Solutions Cor by 249.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company's stock worth $26,000 after purchasing an additional 502 shares during the last quarter. Whittier Trust Co. bought a new position in Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $26,000. HM Payson & Co. bought a new position in Zurn Elkay Water Solutions Cor in the 1st quarter worth about $37,000. Federated Hermes Inc. grew its position in Zurn Elkay Water Solutions Cor by 3,687.2% in the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock worth $59,000 after purchasing an additional 1,733 shares during the last quarter. Finally, CWM LLC grew its position in Zurn Elkay Water Solutions Cor by 33.8% in the 2nd quarter. CWM LLC now owns 1,799 shares of the company's stock worth $66,000 after purchasing an additional 454 shares during the last quarter. 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.