Zurn Elkay Water Solutions (NYSE:ZWS) Stock Price Down 5.2% – Time to Sell?

Zurn Elkay Water Solutions Co. (NYSE:ZWS) shares traded down 5.2% on Wednesday . The company traded as low as $37.87 and last traded at $37.38. 348,308 shares traded hands during trading, a decline of 59% from the average session volume of 855,363 shares. The stock had previously closed at $39.41.

Wall Street Analyst Weigh In

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

Zurn Elkay Water Solutions Trading Down 2.3 %

The firm has a market capitalization of $6.53 billion, a PE ratio of 48.72, a P/E/G ratio of 1.83 and a beta of 1.15. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The business’s fifty day moving average price is $38.55 and its 200 day moving average price is $35.95.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. As a group, analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 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 given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.57%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the sale, the chief financial officer now owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This represents a 7.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $122,617.80. Following the completion of the transaction, the vice president now directly owns 35,422 shares in the company, valued at $1,386,771.30. This represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of hedge funds have recently added to or reduced their stakes in ZWS. Barclays PLC lifted its position in Zurn Elkay Water Solutions by 85.7% in the 3rd quarter. Barclays PLC now owns 304,731 shares of the company’s stock valued at $10,952,000 after purchasing an additional 140,624 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after buying an additional 868,748 shares in the last quarter. Global Alpha Capital Management Ltd. increased its position in Zurn Elkay Water Solutions by 23.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock valued at $3,323,000 after acquiring an additional 17,350 shares during the period. JPMorgan Chase & Co. raised its stake in Zurn Elkay Water Solutions by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock valued at $58,077,000 after acquiring an additional 329,563 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after acquiring an additional 35,570 shares during the period. 83.33% of the stock is currently 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.