Brokerages Set Zurn Elkay Water Solutions Cor (NYSE:ZWS) Price Target at $54.88

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $55.3333.

A number of research firms recently weighed in on ZWS. Robert W. Baird lowered their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Oppenheimer restated an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Barclays started coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Tuesday. They issued an “overweight” rating and a $59.00 price target for the company. Finally, Royal Bank Of Canada lifted their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS stock opened at $49.16 on Friday. Zurn Elkay Water Solutions Cor has a twelve month low of $35.73 and a twelve month high of $53.76. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 39.64, a P/E/G ratio of 1.94 and a beta of 1.04. The stock has a fifty day simple moving average of $49.33 and a two-hundred day simple moving average of $48.23. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $433.00 million for the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 EPS. On average, analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 35.48%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Andina Capital Management LLC boosted its position in Zurn Elkay Water Solutions Cor by 1.6% during the fourth quarter. Andina Capital Management LLC now owns 12,618 shares of the company’s stock worth $587,000 after acquiring an additional 200 shares during the last quarter. UMB Bank n.a. raised its holdings in Zurn Elkay Water Solutions Cor by 24.2% in the 4th quarter. UMB Bank n.a. now owns 1,233 shares of the company’s stock valued at $57,000 after acquiring an additional 240 shares during the last quarter. Assetmark Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 53.0% in the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after purchasing an additional 292 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 15.6% in the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock worth $91,000 after purchasing an additional 341 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 134,647 shares of the company’s stock worth $4,924,000 after purchasing an additional 353 shares during the last quarter. 83.33% of the stock is 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.