Zurn Elkay Water Solutions Cor (NYSE:ZWS) Given Average Recommendation of “Moderate Buy” by Brokerages

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $45.00.

Several research analysts have weighed in on ZWS shares. Jefferies Financial Group initiated coverage on shares of Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They issued a “buy” rating and a $58.00 price target on the stock. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Zacks Research cut Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday.

Zurn Elkay Water Solutions Cor Trading Down 1.8%

Shares of Zurn Elkay Water Solutions Cor stock opened at $46.49 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.83. The business has a fifty day simple moving average of $47.10 and a two-hundred day simple moving average of $44.36. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $50.03. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 41.51, a P/E/G ratio of 2.20 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $455.40 million for the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. Research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Thursday, November 20th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, November 20th. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 39.29%.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 10,539 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $47.51, for a total value of $500,707.89. Following the completion of the sale, the director directly owned 169,461 shares in the company, valued at approximately $8,051,092.11. The trade was a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 20,100 shares of company stock worth $960,105 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter valued at $25,000. Whittier Trust Co. acquired a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at about $26,000. First Horizon Advisors Inc. lifted its position in Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares during the period. Fifth Third Bancorp grew its stake in Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after buying an additional 256 shares in the last quarter. Finally, First Horizon Corp bought a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at about $45,000. Institutional investors 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.