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

Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) saw unusually-high trading volume on Wednesday . Approximately 1,121,631 shares changed 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.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird boosted 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. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Mizuho raised their price target on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Oppenheimer boosted their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Zurn Elkay Water Solutions Stock Down 2.5 %

The firm has a 50-day moving average price of $38.34 and a 200 day moving average price of $36.18. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 39.13, a P/E/G ratio of 1.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (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 predict that Zurn Elkay Water Solutions Co. will post 1.35 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.00%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 39.13%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZWS. GAMMA Investing LLC increased its stake in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after buying an additional 544 shares during the period. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions in the 3rd quarter valued at approximately $36,000. Atala Financial Inc bought a new position in shares of Zurn Elkay Water Solutions during the fourth quarter valued at $44,000. Tsfg LLC acquired a new position in shares of Zurn Elkay Water Solutions during the fourth quarter worth $56,000. Finally, Tortoise Investment Management LLC increased its holdings in Zurn Elkay Water Solutions by 77.4% in the fourth 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. Institutional investors own 83.33% of the company’s stock.

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.