Zurn Elkay Water Solutions Cor (NYSE:ZWS) Given Average Recommendation of “Hold” by Analysts

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has been given an average recommendation of “Hold” by the nine research firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $51.6250.

Several research firms have commented on ZWS. Stifel Nicolaus set a $59.00 target price on shares of Zurn Elkay Water Solutions Cor in a 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Oppenheimer upped their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its position in Zurn Elkay Water Solutions Cor by 3.5% during the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after purchasing an additional 201,299 shares in the last quarter. State Street Corp boosted its position in Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after buying an additional 30,483 shares in the last quarter. Beck Mack & Oliver LLC boosted its position in Zurn Elkay Water Solutions Cor by 3.7% in the second quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after buying an additional 133,478 shares in the last quarter. Geode Capital Management LLC grew its stake 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 worth $164,716,000 after buying an additional 15,232 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake 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 worth $158,478,000 after buying an additional 3,184,048 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Up 0.1%

Shares of ZWS opened at $45.22 on Wednesday. The firm has a market cap of $7.58 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $53.17. The firm’s 50-day simple moving average is $48.52 and its 200 day simple moving average is $47.43.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $407.20 million during the quarter, compared to analysts’ expectations of $400.75 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. On average, analysts forecast 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 declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.0%. Zurn Elkay Water Solutions Cor’s payout ratio is 38.26%.

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.