Analysts Set Zurn Elkay Water Solutions Cor (NYSE:ZWS) Target Price at $57.22

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $57.2222.

ZWS has been the topic of several recent analyst reports. Barclays boosted their price target on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Royal Bank Of Canada upped their target price on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Finally, Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Donavon Butler acquired 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the purchase, the director directly owned 37,487 shares of the company’s stock, valued at $1,859,355.20. The trade was a 5.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Institutional investors have recently modified their holdings of the stock. Kilter Group LLC bought a new position in shares of Zurn Elkay Water Solutions Cor during the second quarter worth about $25,000. Advisory Services Network LLC bought a new stake in Zurn Elkay Water Solutions Cor in the third quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Zurn Elkay Water Solutions Cor in the second quarter valued at about $27,000. Kemnay Advisory Services Inc. acquired a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $35,000. Finally, Hantz Financial Services Inc. raised its stake in Zurn Elkay Water Solutions Cor by 138.9% during the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after buying an additional 468 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $49.10 on Friday. Zurn Elkay Water Solutions Cor has a 12-month low of $43.06 and a 12-month high of $55.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04. The firm’s fifty day moving average price is $49.46 and its 200 day moving average price is $48.83.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. On average, research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 27.16%.

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.