Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $51.63 Average Price Target from Brokerages

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has been assigned an average rating of “Hold” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $51.6250.

ZWS has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. The Goldman Sachs Group restated a “neutral” rating and set a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Stifel Nicolaus set a $59.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada boosted their price target on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 5th.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $49.87 on Friday. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $48.16 and its two-hundred day moving average is $47.09. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $53.17. The firm has a market capitalization of $8.32 billion, a PE ratio of 43.36, a P/E/G ratio of 2.11 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The business had revenue of $407.20 million during the quarter, compared to analysts’ expectations of $400.75 million. During the same period last year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be given a $0.11 dividend. The ex-dividend date is Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 38.26%.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, VP Jeffrey J. Lavalle sold 6,097 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total transaction of $315,824.60. Following the completion of the transaction, the vice president owned 49,803 shares in the company, valued at approximately $2,579,795.40. The trade was a 10.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy J. Jahnke sold 25,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total value of $1,279,500.00. Following the transaction, the director owned 266,864 shares of the company’s stock, valued at $13,658,099.52. This represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 599,259 shares of company stock worth $31,225,361 in the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

A number of large investors have recently made changes to their positions in ZWS. Invesco Ltd. raised its stake in Zurn Elkay Water Solutions Cor by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after purchasing an additional 201,299 shares during the last quarter. State Street Corp lifted its position in Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after buying an additional 30,483 shares during the period. Impax Asset Management Group plc lifted its position in Zurn Elkay Water Solutions Cor by 22.8% during the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after buying an additional 916,850 shares during the period. Beck Mack & Oliver LLC boosted its stake in Zurn Elkay Water Solutions Cor by 3.7% in the 2nd quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock worth $135,541,000 after buying an additional 133,478 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Zurn Elkay Water Solutions Cor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock valued at $164,716,000 after buying an additional 15,232 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.