Zurn Elkay Water Solutions Cor (NYSE:ZWS) Hits New 52-Week High – Time to Buy?

Zurn Elkay Water Solutions Cor (NYSE:ZWS) reached a new 52-week high on Thursday . The stock traded as high as $46.60 and last traded at $46.56, with a volume of 782966 shares. The stock had previously closed at $46.05.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ZWS. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.00.

Zurn Elkay Water Solutions Cor Stock Performance

The firm has a fifty day simple moving average of $40.42 and a 200 day simple moving average of $36.34. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 46.10, a PEG ratio of 2.47 and a beta of 1.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. As a group, sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 108,930 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the sale, the vice president owned 94,330 shares of the company’s stock, valued at $4,113,731.30. The trade was a 53.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy J. Jahnke sold 9,857 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total transaction of $444,156.42. Following the transaction, the director directly owned 328,964 shares of the company’s stock, valued at $14,823,117.84. The trade was 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 in the last three months. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Zurn Elkay Water Solutions Cor by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock valued at $523,094,000 after purchasing an additional 371,635 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Zurn Elkay Water Solutions Cor by 0.3% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company’s stock valued at $448,714,000 after buying an additional 42,277 shares in the last quarter. Invesco Ltd. boosted its stake in Zurn Elkay Water Solutions Cor by 1.9% in the 1st quarter. Invesco Ltd. now owns 5,991,234 shares of the company’s stock valued at $197,591,000 after buying an additional 110,932 shares in the last quarter. State Street Corp grew its position in Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after acquiring an additional 30,483 shares during the period. Finally, Impax Asset Management Group plc raised its stake in Zurn Elkay Water Solutions Cor by 22.8% during the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after acquiring an additional 916,850 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions Cor

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.