Zurn Elkay Water Solutions Cor (NYSE:ZWS) Reaches New 52-Week High on Analyst Upgrade

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) reached a new 52-week high on Thursday after Stifel Nicolaus raised their price target on the stock from $53.00 to $59.00. Stifel Nicolaus currently has a buy rating on the stock. Zurn Elkay Water Solutions Cor traded as high as $53.69 and last traded at $53.6150, with a volume of 70096 shares. The stock had previously closed at $52.48.

Other analysts also recently issued reports about the company. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada increased their price objective 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. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and an average target price of $54.88.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, CFO David J. Pauli sold 812 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $51.61, for a total value of $41,907.32. Following the completion of the sale, the chief financial officer directly owned 65,995 shares of the company’s stock, valued at $3,406,001.95. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 25,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total value of $1,279,500.00. Following the completion of the sale, the director directly owned 266,864 shares of the company’s stock, valued at approximately $13,658,099.52. This trade represents a 8.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 599,259 shares of company stock valued at $31,225,361. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Several institutional investors have recently modified their holdings of ZWS. Alliancebernstein L.P. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after acquiring an additional 3,184,048 shares in the last quarter. Norges Bank bought a new position in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $111,341,000. First Trust Advisors LP grew its holdings in shares of Zurn Elkay Water Solutions Cor by 51.9% in the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after acquiring an additional 1,128,917 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 78.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock valued at $42,161,000 after acquiring an additional 399,180 shares in the last quarter. Finally, MAI Capital Management grew its holdings in shares of Zurn Elkay Water Solutions Cor by 120,771.6% in the third quarter. MAI Capital Management now owns 293,718 shares of the company’s stock valued at $13,814,000 after acquiring an additional 293,475 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Cor Trading Up 0.6%

The company has a market capitalization of $8.81 billion, a P/E ratio of 42.59, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.07. The firm has a fifty day moving average price of $47.75 and a 200-day moving average price of $47.42.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $433.00 million during the quarter, compared to analyst estimates of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. On average, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.66 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 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.