Zurn Elkay Water Solutions (NYSE:ZWS) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) saw unusually-high trading volume on Wednesday . Approximately 1,121,631 shares traded hands during trading, an increase of 25% from the previous session’s volume of 896,281 shares.The stock last traded at $35.90 and had previously closed at $36.88.

Analysts Set New Price Targets

ZWS has been the subject of several recent research reports. Mizuho increased their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of 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 increased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Oppenheimer lifted their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

Zurn Elkay Water Solutions Stock Up 0.1 %

The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 39.08, a P/E/G ratio of 1.78 and a beta of 1.15. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $38.24 and a 200 day moving average price of $36.17.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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%. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 39.13%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Zurn Elkay Water Solutions by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after purchasing an additional 544 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Zurn Elkay Water Solutions during the third quarter worth $36,000. Atala Financial Inc acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at approximately $44,000. Tsfg LLC acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at approximately $56,000. Finally, Tortoise Investment Management LLC grew its position in shares of Zurn Elkay Water Solutions by 77.4% in the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock valued at $65,000 after purchasing an additional 755 shares during the period. 83.33% of the stock is 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.