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

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $54.8750.

A number of equities research analysts have issued reports on ZWS shares. Royal Bank Of Canada increased their price target on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. Robert W. Baird cut their price target on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Finally, UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd.

Zurn Elkay Water Solutions Cor Trading Up 2.0%

Shares of ZWS stock opened at $51.21 on Friday. Zurn Elkay Water Solutions Cor has a 52-week low of $35.73 and a 52-week high of $53.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. The firm has a market capitalization of $8.55 billion, a PE ratio of 41.30, a PEG ratio of 1.98 and a beta of 1.06. The stock has a fifty day simple moving average of $49.08 and a two-hundred day simple moving average of $48.12.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $433.00 million during the quarter, compared to analyst estimates of $418.99 million. During the same quarter in the prior year, the business posted $0.31 EPS. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, May 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 presently 35.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its position in shares of Zurn Elkay Water Solutions Cor by 3.5% during the third 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 in the last quarter. State Street Corp grew its position in shares of 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 valued at $196,806,000 after purchasing an additional 30,483 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock valued at $164,716,000 after purchasing an additional 15,232 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Zurn Elkay Water Solutions Cor by 1,714.8% during the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after purchasing an additional 3,184,048 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Zurn Elkay Water Solutions Cor by 51.9% during the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after purchasing an additional 1,128,917 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Company Profile

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.