Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $55.00.

Several equities analysts have commented on the stock. Robert W. Baird decreased their price target 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 report on Thursday, April 23rd. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Royal Bank Of Canada lifted their target price on 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. Finally, Stifel Nicolaus lowered their target price on Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, July 20th.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $48.35 on Tuesday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $37.83 and a fifty-two week high of $53.76. The firm’s 50 day moving average price is $48.27 and its 200 day moving average price is $48.26. The company has a market cap of $8.07 billion, a P/E ratio of 38.99, a PEG ratio of 1.91 and a beta of 1.04. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 35.48%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

A number of institutional investors and hedge funds have recently made changes to their positions in ZWS. Norges Bank acquired a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $111,341,000. First Trust Advisors LP increased its position in shares of Zurn Elkay Water Solutions Cor by 51.9% in the 4th quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after purchasing an additional 1,128,917 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Zurn Elkay Water Solutions Cor by 4,236.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 455,834 shares of the company’s stock valued at $20,440,000 after purchasing an additional 445,323 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 78.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock valued at $42,161,000 after purchasing an additional 399,180 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Zurn Elkay Water Solutions Cor by 157.0% in the 3rd quarter. UBS Group AG now owns 479,166 shares of the company’s stock valued at $22,535,000 after purchasing an additional 292,747 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

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.