Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $54.88 Consensus Target Price from Analysts

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $54.8750.

Several equities analysts have recently commented on ZWS shares. Royal Bank Of Canada upped their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. The Goldman Sachs Group restated a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Robert W. Baird dropped their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd.

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 25,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the sale, the director directly owned 266,864 shares in the company, valued at $13,658,099.52. This represents a 8.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sudhanshu Chhabra sold 2,021 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total value of $102,767.85. Following the sale, the vice president directly owned 69,556 shares in the company, valued at $3,536,922.60. This represents a 2.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 27,468 shares of company stock worth $1,405,002. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

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

Zurn Elkay Water Solutions Cor Trading Down 1.9%

Shares of Zurn Elkay Water Solutions Cor stock opened at $48.83 on Thursday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $35.06 and a fifty-two week high of $53.76. 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 firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 1.97 and a beta of 1.11. The stock has a 50 day moving average of $47.83 and a 200 day moving average of $47.83.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. As a group, research analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is 35.48%.

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.