Zurn Elkay Water Solutions Cor (NYSE:ZWS) Hits New 12-Month High – Still a Buy?

Zurn Elkay Water Solutions Cor (NYSE:ZWS)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $53.15 and last traded at $52.51, with a volume of 1798126 shares. The stock had previously closed at $52.78.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ZWS shares. Stifel Nicolaus set a $59.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday. 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 report on Thursday. Robert W. Baird set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Royal Bank Of Canada upped their target price on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, Jefferies Financial Group started coverage on Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They set a “buy” rating and a $58.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.63.

Zurn Elkay Water Solutions Cor Stock Performance

The company has a fifty day moving average of $47.35 and a two-hundred day moving average of $46.49. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 45.66, a PEG ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is 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 (DPR) is currently 38.26%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 17,900 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $50.44, for a total value of $902,876.00. Following the completion of the sale, the director directly owned 288,964 shares in the company, valued at approximately $14,575,344.16. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ZWS. HM Payson & Co. grew its stake in Zurn Elkay Water Solutions Cor by 12.0% during the third quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock worth $108,000 after buying an additional 246 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after acquiring an additional 256 shares during the period. Archer Investment Corp boosted its position 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 acquiring an additional 295 shares in the last quarter. Thrive Wealth Management LLC raised its position in Zurn Elkay Water Solutions Cor by 3.8% during the third quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock valued at $410,000 after purchasing an additional 323 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Zurn Elkay Water Solutions Cor by 12.5% during the second quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock worth $112,000 after purchasing an additional 339 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

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.