Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives Consensus Rating of “Hold” from Brokerages

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have received a consensus rating of “Hold” from the nine analysts that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $51.6250.

A number of research firms recently weighed in on ZWS. Stifel Nicolaus set a $59.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Robert W. Baird set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Finally, Oppenheimer raised their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, February 6th.

Zurn Elkay Water Solutions Cor Trading Down 0.2%

Shares of ZWS stock opened at $50.81 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 2.11 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $53.17. The firm has a fifty day moving average price of $48.11 and a 200-day moving average price of $47.02.

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

Zurn Elkay Water Solutions Cor Announces Dividend

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

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, VP Jeffrey J. Lavalle sold 946 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total value of $48,841.98. Following the completion of the sale, the vice president directly owned 51,868 shares in the company, valued at $2,677,944.84. This trade represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd A. Adams sold 275,050 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.78, for a total transaction of $14,242,089.00. Following the completion of the sale, the chief executive officer directly owned 2,256,684 shares in the company, valued at approximately $116,851,097.52. This represents a 10.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 599,259 shares of company stock worth $31,225,361 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

A number of large investors have recently bought and sold shares of the business. Empowered Funds LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the first quarter valued at $277,000. Woodline Partners LP bought a new position in Zurn Elkay Water Solutions Cor in the 1st quarter worth about $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 5.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company’s stock worth $16,127,000 after acquiring an additional 24,348 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 34.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,312 shares of the company’s stock valued at $304,000 after acquiring an additional 2,127 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 33.8% in the second quarter. CWM LLC now owns 1,799 shares of the company’s stock valued at $66,000 after purchasing an additional 454 shares during the period. Hedge funds and other 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.