Zurn Elkay Water Solutions (NYSE:ZWS) Sets New 52-Week Low at $25.90

Zurn Elkay Water Solutions Co. (NYSE:ZWSGet Rating) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $25.90 and last traded at $26.00, with a volume of 45326 shares. The stock had previously closed at $26.65.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ZWS shares. Robert W. Baird dropped their target price on shares of Zurn Elkay Water Solutions from $38.00 to $34.00 in a research report on Wednesday, July 27th. The Goldman Sachs Group dropped their target price on shares of Zurn Elkay Water Solutions from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. KeyCorp dropped their target price on shares of Zurn Elkay Water Solutions from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Stifel Nicolaus started coverage on shares of Zurn Elkay Water Solutions in a research report on Wednesday, June 29th. They set a “buy” rating and a $34.00 target price for the company. Finally, Mizuho dropped their target price on shares of Zurn Elkay Water Solutions from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $35.67.

Zurn Elkay Water Solutions Stock Performance

The stock has a market cap of $4.64 billion, a PE ratio of 51.14, a PEG ratio of 1.28 and a beta of 1.32. The stock has a fifty day simple moving average of $29.08 and a two-hundred day simple moving average of $30.50. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.43 and a current ratio of 2.44.

Zurn Elkay Water Solutions (NYSE:ZWSGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $278.77 million. Zurn Elkay Water Solutions had a return on equity of 30.72% and a net margin of 4.90%. During the same quarter in the prior year, the business earned $0.58 EPS. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.02 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Friday, August 19th were paid a dividend of $0.07 per share. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.03. This represents a $0.28 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, August 18th. Zurn Elkay Water Solutions’s dividend payout ratio is 54.90%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several institutional investors and hedge funds have recently made changes to their positions in ZWS. Capital World Investors purchased a new position in shares of Zurn Elkay Water Solutions during the 4th quarter valued at approximately $262,847,000. Impax Asset Management Group plc bought a new position in Zurn Elkay Water Solutions during the fourth quarter worth $231,389,000. Invesco Ltd. bought a new position in Zurn Elkay Water Solutions during the fourth quarter worth $165,047,000. State Street Corp bought a new position in Zurn Elkay Water Solutions during the fourth quarter worth $86,370,000. Finally, Gates Capital Management Inc. bought a new position in Zurn Elkay Water Solutions during the fourth quarter worth $78,497,000. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

About Zurn Elkay Water Solutions

(Get Rating)

Zurn Elkay Water Solutions Corporation designs, procures, manufactures, and markets water system solutions that provide and enhance water quality, safety, flow control, and conservation in and around non-residential buildings. It offers finish plumbing, drainage and interceptors, water control and backflow, fire protection, PEX pipe fittings and accessories, and repair parts under the Zurn brand name; and hand and hair dryers, and baby changing stations under the World Dryer brand name.

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