Zurn Elkay Water Solutions Cor (NYSE:ZWS) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Zurn Elkay Water Solutions Cor (NYSE:ZWS) released its quarterly earnings data on Tuesday. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02, FiscalAI reports. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS traded up $0.16 during midday trading on Tuesday, reaching $47.09. The stock had a trading volume of 1,244,722 shares, compared to its average volume of 1,028,687. The firm has a market cap of $7.88 billion, a PE ratio of 42.04, a P/E/G ratio of 1.90 and a beta of 1.08. The firm has a 50 day simple moving average of $47.05 and a 200-day simple moving average of $46.00. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $50.03. The company has a current ratio of 2.78, a quick ratio of 1.83 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be paid a $0.11 dividend. The ex-dividend date is Friday, February 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 39.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZWS. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Zacks Research lowered Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. The Goldman Sachs Group reissued a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Finally, Oppenheimer set a $53.00 target price on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research note on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.50.

Insider Activity

In related news, Director Timothy J. Jahnke sold 7,461 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $47.50, for a total value of $354,397.50. Following the completion of the sale, the director directly owned 162,000 shares in the company, valued at approximately $7,695,000. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Shelton Capital Management acquired a new stake in Zurn Elkay Water Solutions Cor during the 3rd quarter worth approximately $239,000. Brevan Howard Capital Management LP bought a new position in Zurn Elkay Water Solutions Cor during the 3rd quarter worth $230,000. Epoch Investment Partners Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the third quarter worth $240,000. Franklin Resources Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the third quarter worth $314,000. Finally, Schroder Investment Management Group bought a new stake in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at about $300,000. Institutional investors own 83.33% of the company’s stock.

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.