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

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has received a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $55.00.

Several equities analysts have recently issued reports on ZWS shares. Robert W. Baird decreased their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Barclays initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 price target on the stock. Oppenheimer reissued an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada upped their target price on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 23rd.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several hedge funds have recently added to or reduced their stakes in ZWS. Advisory Services Network LLC acquired a new position in Zurn Elkay Water Solutions Cor in the third quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth about $35,000. Hantz Financial Services Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 138.9% during the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after purchasing an additional 468 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 53.0% during the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock valued at $38,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 0.1%

Shares of Zurn Elkay Water Solutions Cor stock opened at $47.80 on Tuesday. The business has a fifty day simple moving average of $48.37 and a 200 day simple moving average of $48.24. The stock has a market cap of $7.98 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12 month low of $36.59 and a 12 month high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The firm had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is 35.48%.

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.