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

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has earned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $54.8571.

ZWS has been the topic of a number of recent research reports. Robert W. Baird set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Oppenheimer upped their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Stifel Nicolaus set a $59.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Royal Bank Of Canada upped their target price on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Finally, Zacks Research lowered Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, CEO Todd A. Adams sold 275,050 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total value of $14,242,089.00. Following the sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 2,021 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total value of $102,767.85. Following the completion of the sale, the vice president owned 69,556 shares in the company, valued at approximately $3,536,922.60. This represents a 2.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 599,259 shares of company stock worth $31,225,361. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ZWS. Alliancebernstein L.P. lifted its position in shares of Zurn Elkay Water Solutions Cor by 1,714.8% during the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after buying an additional 3,184,048 shares in the last quarter. Norges Bank purchased a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter valued at approximately $111,341,000. First Trust Advisors LP lifted its position in shares of Zurn Elkay Water Solutions Cor by 51.9% during the 4th quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after buying an additional 1,128,917 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 78.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock valued at $42,161,000 after buying an additional 399,180 shares in the last quarter. Finally, MAI Capital Management lifted its position in shares of Zurn Elkay Water Solutions Cor by 120,771.6% during the 3rd quarter. MAI Capital Management now owns 293,718 shares of the company’s stock valued at $13,814,000 after buying an additional 293,475 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS opened at $47.73 on Friday. Zurn Elkay Water Solutions Cor has a 52-week low of $28.64 and a 52-week high of $53.17. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.00 billion, a P/E ratio of 41.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.07. The firm’s 50-day moving average price is $48.06 and its 200-day moving average price is $47.28.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm 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 net margin of 11.68% and a return on equity of 16.54%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. As a group, equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 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.