Zurn Elkay Water Solutions Cor (NYSE:ZWS) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Zurn Elkay Water Solutions Cor (NYSE:ZWS)’s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $48.28 and traded as low as $42.89. Zurn Elkay Water Solutions Cor shares last traded at $43.3090, with a volume of 2,515,117 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZWS. Robert W. Baird set a $50.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 22nd. Royal Bank Of Canada lowered their price target on Zurn Elkay Water Solutions Cor from $54.00 to $49.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Mizuho set a $48.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.67.

Zurn Elkay Water Solutions Cor Stock Up 0.1%

The firm has a 50 day simple moving average of $47.10 and a two-hundred day simple moving average of $48.26. The company has a market capitalization of $7.39 billion, a PE ratio of 24.99, a P/E/G ratio of 1.61 and a beta of 1.07. The company has a current ratio of 2.85, a quick ratio of 2.13 and a debt-to-equity ratio of 0.29.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. Zurn Elkay Water Solutions Cor had a return on equity of 18.46% and a net margin of 15.91%. The business had revenue of $495.10 million during the quarter, compared to analysts’ expectations of $493.36 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts expect that Zurn Elkay Water Solutions Cor will post 1.85 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Friday, November 20th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.52 annualized dividend and a yield of 1.2%. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.11. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 27.16%.

Insider Buying and Selling

In other news, Director Jacques Butler bought 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $49.60 per share, for a total transaction of $99,993.60. Following the purchase, the director owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kilter Group LLC acquired a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at $25,000. Root Financial Partners LLC purchased a new position in Zurn Elkay Water Solutions Cor during the third quarter worth about $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in Zurn Elkay Water Solutions Cor during the second quarter worth about $27,000. Assetmark Inc. boosted its stake in Zurn Elkay Water Solutions Cor by 53.0% in the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after buying an additional 292 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $49,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.