Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $45.00 Consensus Price Target from Analysts

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $45.50.

Several analysts have recently weighed in on ZWS shares. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Oppenheimer set a $53.00 price objective on shares of Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a report on Friday, October 31st. Jefferies Financial Group began coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They issued a “buy” rating and a $58.00 target price on the stock. Finally, Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th.

Zurn Elkay Water Solutions Cor Stock Down 0.7%

Shares of NYSE:ZWS opened at $45.87 on Friday. The firm has a market capitalization of $7.68 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 1.99 and a beta of 1.08. The business has a 50 day simple moving average of $47.07 and a two-hundred day simple moving average of $44.74. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $50.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.83.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $455.40 million during the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.34 EPS. On average, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Thursday, November 20th were given a dividend of $0.11 per share. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 39.29%.

Insider Activity

In other news, Director Timothy J. Jahnke sold 10,539 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $47.51, for a total transaction of $500,707.89. Following the transaction, the director owned 169,461 shares in the company, valued at approximately $8,051,092.11. This trade represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 20,100 shares of company stock worth $960,105. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZWS. 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 valued at $279,571,000 after purchasing an additional 201,299 shares during the period. State Street Corp boosted its stake in shares of Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after purchasing an additional 30,483 shares in the last quarter. Impax Asset Management Group plc increased its holdings in Zurn Elkay Water Solutions Cor by 22.8% during the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after buying an additional 916,850 shares during the period. Beck Mack & Oliver LLC raised its stake 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 worth $135,541,000 after buying an additional 133,478 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 2.7% during the second quarter. Geode Capital Management LLC now owns 3,446,680 shares of the company’s stock worth $126,059,000 after buying an additional 91,740 shares during the period. 83.33% of the stock is currently owned by institutional investors.

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.