Zurn Elkay Water Solutions Cor (NYSE:ZWS) Price Target Raised to $58.00

Zurn Elkay Water Solutions Cor (NYSE:ZWS) had its target price raised by Royal Bank Of Canada from $56.00 to $58.00 in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Barclays assumed coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 price objective for the company. Finally, 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 research note on Wednesday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.22.

Zurn Elkay Water Solutions Cor Price Performance

Zurn Elkay Water Solutions Cor stock opened at $50.56 on Thursday. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $8.39 billion, a P/E ratio of 31.21, a PEG ratio of 1.93 and a beta of 1.04. The business has a 50-day moving average of $48.52 and a 200-day moving average of $48.40. Zurn Elkay Water Solutions Cor has a 1 year low of $42.39 and a 1 year high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The business had revenue of $491.00 million for the quarter, compared to the consensus estimate of $483.04 million. During the same period last year, the company posted $0.42 EPS. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 27.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $35,000. Hantz Financial Services Inc. grew its stake in shares of Zurn Elkay Water Solutions Cor by 138.9% during the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after acquiring an additional 468 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 53.0% in the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock valued at $38,000 after purchasing an additional 292 shares during the last quarter. 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.