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

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $51.6250.

ZWS has been the subject of several recent analyst reports. Stifel Nicolaus set a $59.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Zacks Research lowered shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Royal Bank Of Canada increased their price target on shares of 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. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Finally, Jefferies Financial Group started coverage on Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective for the company.

Insider Activity

In other news, CEO Todd A. Adams sold 275,050 shares of the 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 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. This represents a 10.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David J. Pauli sold 7,639 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total value of $395,700.20. Following the completion of the sale, the chief financial officer directly owned 66,807 shares in the company, valued at approximately $3,460,602.60. The trade was a 10.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 599,259 shares of company stock worth $31,225,361. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several hedge funds and other institutional investors have recently made changes to their positions in ZWS. Advisory Services Network LLC purchased a new position in Zurn Elkay Water Solutions Cor in the third quarter worth about $25,000. V Square Quantitative Management LLC bought a new position in Zurn Elkay Water Solutions Cor during the 4th quarter valued at about $26,000. First Horizon Advisors Inc. boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the last quarter. Whittier Trust Co. bought a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth approximately $26,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE ZWS opened at $50.81 on Friday. The company’s 50 day moving average is $48.11 and its 200-day moving average is $47.02. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $53.17. The firm has a market cap of $8.47 billion, a P/E ratio of 44.18, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The firm had revenue of $407.20 million during the quarter, compared to analyst estimates of $400.75 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is presently 38.26%.

Zurn Elkay Water Solutions Cor Company Profile

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.