Robert W. Baird Cuts Zurn Elkay Water Solutions Cor (NYSE:ZWS) Price Target to $53.00

Zurn Elkay Water Solutions Cor (NYSE:ZWS) had its target price decreased by Robert W. Baird from $56.00 to $53.00 in a report released on Thursday morning, MarketBeat reports. Robert W. Baird currently has a neutral rating on the stock.

Several other analysts also recently commented on the stock. Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. The Goldman Sachs Group restated a “neutral” rating and set a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a research 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. Stifel Nicolaus cut their price target on Zurn Elkay Water Solutions Cor from $59.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Royal Bank Of Canada lifted their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.88.

Zurn Elkay Water Solutions Cor Trading Down 0.5%

Zurn Elkay Water Solutions Cor stock opened at $52.49 on Thursday. The stock has a 50-day moving average price of $47.78 and a 200 day moving average price of $47.46. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 52 week low of $33.45 and a 52 week high of $53.70. The company has a quick ratio of 2.07, a current ratio of 3.24 and a debt-to-equity ratio of 0.31.

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 for the quarter, topping the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The company had revenue of $433.00 million for the quarter, compared to the consensus estimate of $418.99 million. During the same quarter in the prior year, the company earned $0.31 EPS. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.72 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently announced 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. This represents a $0.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 35.48%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, VP Jeffrey J. Lavalle sold 6,097 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total transaction of $315,824.60. Following the sale, the vice president directly owned 49,803 shares of the company’s stock, valued at approximately $2,579,795.40. This represents a 10.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy J. Jahnke sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the sale, the director owned 266,864 shares in the company, valued at approximately $13,658,099.52. This represents a 8.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 599,259 shares of company stock worth $31,225,361. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

A number of institutional investors have recently modified their holdings of the business. Andina Capital Management LLC raised its holdings in Zurn Elkay Water Solutions Cor by 1.6% in the 4th quarter. Andina Capital Management LLC now owns 12,618 shares of the company’s stock worth $587,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. grew its holdings in Zurn Elkay Water Solutions Cor by 24.2% in the fourth quarter. UMB Bank n.a. now owns 1,233 shares of the company’s stock valued at $57,000 after purchasing an additional 240 shares during the period. HM Payson & Co. increased its position in shares of Zurn Elkay Water Solutions Cor by 12.0% in the third quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock valued at $108,000 after buying an additional 246 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after buying an additional 256 shares in the last quarter. Finally, Archer Investment Corp raised its stake in shares of Zurn Elkay Water Solutions Cor by 8.9% during the 3rd 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. 83.33% of the stock is currently owned by institutional investors and hedge funds.

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.