Zurn Elkay Water Solutions Cor (NYSE:ZWS) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Zurn Elkay Water Solutions Cor (NYSE:ZWS) announced its earnings results on Tuesday. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02, FiscalAI reports. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%.

Zurn Elkay Water Solutions Cor Price Performance

Zurn Elkay Water Solutions Cor stock traded up $0.16 during mid-day trading on Tuesday, hitting $47.09. 1,244,722 shares of the company traded hands, compared to its average volume of 1,028,687. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.83 and a current ratio of 2.78. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $50.03. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 42.04, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08. The stock has a fifty day moving average price of $47.05 and a 200-day moving average price of $46.00.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 39.29%.

Wall Street Analyst Weigh In

ZWS has been the subject of several analyst reports. Oppenheimer set a $53.00 price objective on shares of Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research note on Friday, October 31st. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Jefferies Financial Group started coverage on Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective for the company. Mizuho set a $49.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Finally, Zacks Research lowered shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions Cor has an average rating of “Hold” and an average price target of $45.50.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 10,539 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $47.51, for a total value of $500,707.89. Following the transaction, the director owned 169,461 shares of the company’s stock, valued at $8,051,092.11. This represents a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Large investors have recently modified their holdings of the company. Allworth Financial LP boosted its holdings in Zurn Elkay Water Solutions Cor by 507.5% in the third quarter. Allworth Financial LP now owns 978 shares of the company’s stock valued at $46,000 after acquiring an additional 817 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter valued at about $754,000. Advisory Services Network LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor during the third quarter valued at about $25,000. Cim Investment Management Inc. purchased a new stake in Zurn Elkay Water Solutions Cor in the third quarter worth about $219,000. Finally, Oberweis Asset Management Inc. bought a new stake in Zurn Elkay Water Solutions Cor during the 3rd quarter valued at approximately $12,510,000. 83.33% of the stock is owned by hedge funds and other 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.