Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives Average Rating of “Hold” from Analysts

by · The Markets Daily

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) have been assigned an average recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $45.50.

Several brokerages have commented on ZWS. The Goldman Sachs Group reissued a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Zacks Research lowered Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Jefferies Financial Group initiated coverage on Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They set a “buy” rating and a $58.00 target price for the company. Oppenheimer set a $53.00 price target on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a report on Friday, October 31st. Finally, Mizuho set a $49.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th.

View Our Latest Report on Zurn Elkay Water Solutions Cor

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 10,539 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $47.51, for a total transaction of $500,707.89. Following the sale, the director owned 169,461 shares in the company, valued at approximately $8,051,092.11. This trade represents a 5.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 20,100 shares of company stock valued at $960,105. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Zurn Elkay Water Solutions Cor by 3.5% during the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after purchasing an additional 201,299 shares during the last quarter. State Street Corp lifted its position in Zurn Elkay Water Solutions Cor by 0.6% in the 2nd quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after buying an additional 30,483 shares during the last quarter. Impax Asset Management Group plc boosted its stake in Zurn Elkay Water Solutions Cor by 22.8% in the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after buying an additional 916,850 shares in the last quarter. Beck Mack & Oliver LLC grew its position in Zurn Elkay Water Solutions Cor by 3.7% during the second quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after acquiring an additional 133,478 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 2.7% during the second quarter. Geode Capital Management LLC now owns 3,446,680 shares of the company’s stock worth $126,059,000 after acquiring an additional 91,740 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Down 0.8%

Shares of NYSE ZWS opened at $46.37 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The company has a market cap of $7.76 billion, a P/E ratio of 41.40, a P/E/G ratio of 2.01 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $50.03. The business has a 50-day simple moving average of $47.12 and a two-hundred day simple moving average of $44.73.

Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The firm had revenue of $455.40 million for the quarter, compared to the consensus estimate of $442.62 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Thursday, November 20th were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 39.29%.

Zurn Elkay Water Solutions Cor Company Profile

(Get Free Report)

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.

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