Zurn Elkay Water Solutions Cor (NYSE:ZWS) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Zurn Elkay Water Solutions Cor (NYSE:ZWS) issued its quarterly earnings data on Tuesday. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03, FiscalAI reports. The company had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.17% and a net margin of 15.45%.Zurn Elkay Water Solutions Cor’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share.

Zurn Elkay Water Solutions Cor Price Performance

ZWS traded down $2.38 during midday trading on Thursday, hitting $49.17. The stock had a trading volume of 273,837 shares, compared to its average volume of 1,047,583. Zurn Elkay Water Solutions Cor has a 1 year low of $42.39 and a 1 year high of $55.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. The business has a fifty day moving average of $48.42 and a 200 day moving average of $48.35. The company has a market cap of $8.20 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders 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 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 35.48%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ZWS. Oppenheimer reiterated an “outperform” rating and set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. 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 on the stock in a report on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday. Finally, Stifel Nicolaus set a $62.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.22.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Hedge funds have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 9.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,673,479 shares of the company’s stock valued at $77,800,000 after purchasing an additional 145,029 shares in the last quarter. Tudor Investment Corp ET AL lifted its stake in Zurn Elkay Water Solutions Cor by 534.5% in the fourth quarter. Tudor Investment Corp ET AL now owns 289,242 shares of the company’s stock worth $13,447,000 after purchasing an additional 243,654 shares during the last quarter. Occudo Quantitative Strategies LP lifted its stake in Zurn Elkay Water Solutions Cor by 8.2% in the fourth quarter. Occudo Quantitative Strategies LP now owns 26,432 shares of the company’s stock worth $1,229,000 after purchasing an additional 2,004 shares during the last quarter. Man Group plc purchased a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter valued at about $4,124,000. Finally, Gotham Asset Management LLC boosted its position in Zurn Elkay Water Solutions Cor by 193.7% during the fourth quarter. Gotham Asset Management LLC now owns 55,787 shares of the company’s stock valued at $2,594,000 after buying an additional 36,791 shares during the period. 83.33% of the stock is currently owned by institutional investors.

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.