Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $54.86 Average Target Price from Brokerages

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $54.00.

Several equities analysts have recently weighed in on the company. Stifel Nicolaus reduced their price target on Zurn Elkay Water Solutions Cor from $59.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Oppenheimer lifted their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $49.37 on Friday. Zurn Elkay Water Solutions Cor has a 1-year low of $29.26 and a 1-year high of $53.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07. The business has a fifty day moving average price of $48.16 and a 200-day moving average price of $47.33. The company has a market capitalization of $8.27 billion, a PE ratio of 42.93, a PEG ratio of 2.07 and a beta of 1.07.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 38.26%.

Insider Buying and Selling

In related news, CEO Todd A. Adams sold 275,050 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total value of $14,242,089.00. Following the completion of the sale, the chief executive officer directly owned 2,256,684 shares in the company, valued at approximately $116,851,097.52. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy J. Jahnke sold 25,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total value of $1,279,500.00. Following the completion of the sale, the director owned 266,864 shares of the company’s stock, valued at $13,658,099.52. The trade was a 8.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 599,259 shares of company stock worth $31,225,361 in the last three months. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Large investors have recently bought and sold shares of the business. Nordea Investment Management AB purchased a new position in Zurn Elkay Water Solutions Cor in the fourth quarter worth about $7,356,000. JPMorgan Chase & Co. boosted its position in Zurn Elkay Water Solutions Cor by 8.4% in the third quarter. JPMorgan Chase & Co. now owns 1,457,689 shares of the company’s stock worth $68,555,000 after purchasing an additional 113,425 shares during the last quarter. Fisher Asset Management LLC boosted its position in Zurn Elkay Water Solutions Cor by 27.9% in the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock worth $48,059,000 after purchasing an additional 223,168 shares during the last quarter. Alliancebernstein L.P. boosted its position in Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Zurn Elkay Water Solutions Cor by 73.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,827 shares of the company’s stock worth $6,129,000 after purchasing an additional 55,490 shares during the last quarter. 83.33% of the stock is currently 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.