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

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have received a consensus recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $45.50.

ZWS has been the subject of a number of recent research reports. Oppenheimer set a $53.00 price target on shares of Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research note on Friday, October 31st. Royal Bank Of Canada began coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, January 5th. They issued a “sector perform” rating and a $49.00 price target on the stock. Jefferies Financial Group started coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They set a “buy” rating and a $58.00 price objective on the stock. Mizuho set a $49.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th.

Zurn Elkay Water Solutions Cor Stock Up 0.5%

ZWS opened at $47.04 on Tuesday. The business has a 50 day moving average of $47.00 and a 200-day moving average of $45.67. The company has a current ratio of 2.78, a quick ratio of 1.83 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 42.00, a P/E/G ratio of 1.93 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 $50.03.

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

Insider Transactions at Zurn Elkay Water Solutions Cor

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ZWS. HM Payson & Co. boosted its stake in Zurn Elkay Water Solutions Cor by 12.0% in the 3rd quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock worth $108,000 after purchasing an additional 246 shares during the period. Fifth Third Bancorp raised its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after acquiring an additional 256 shares in the last quarter. Archer Investment Corp lifted its holdings in Zurn Elkay Water Solutions Cor by 8.9% in the third quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock worth $169,000 after buying an additional 295 shares during the period. Thrive Wealth Management LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 3.8% in the 3rd quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock worth $410,000 after buying an additional 323 shares during the period. Finally, IFP Advisors Inc raised its stake in Zurn Elkay Water Solutions Cor by 12.5% during the second quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock valued at $112,000 after buying an additional 339 shares during the last quarter. 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.