Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $57.22 Average PT from Brokerages

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $57.2222.

ZWS has been the topic of several recent research reports. UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Robert W. Baird set a $58.00 target price on Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th.

Institutional Trading of Zurn Elkay Water Solutions Cor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor in the first quarter worth about $277,000. Woodline Partners LP acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 5.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company’s stock valued at $16,127,000 after acquiring an additional 24,348 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 3.8% in the 2nd quarter. American Century Companies Inc. now owns 48,161 shares of the company’s stock valued at $1,761,000 after acquiring an additional 1,768 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Zurn Elkay Water Solutions Cor by 4.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 18,042 shares of the company’s stock worth $660,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS opened at $50.35 on Friday. The firm’s 50 day moving average is $49.37 and its 200-day moving average is $48.77. The stock has a market capitalization of $8.35 billion, a P/E ratio of 31.08, a P/E/G ratio of 1.93 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. Zurn Elkay Water Solutions Cor has a 12-month low of $43.06 and a 12-month high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The business had revenue of $491.00 million for the quarter, compared to the consensus estimate of $483.04 million. During the same period in the previous year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 27.16%.

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.