Brokerages Set Zurn Elkay Water Solutions Cor (NYSE:ZWS) Target Price at $51.63

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $51.6250.

A number of brokerages have commented on ZWS. The Goldman Sachs Group reissued a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Zacks Research cut Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Stifel Nicolaus set a $59.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Jefferies Financial Group began coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They set a “buy” rating and a $58.00 price target on the stock.

Insider Buying and Selling

In related news, Director Timothy J. Jahnke sold 25,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the completion of the sale, the director directly owned 266,864 shares of the company’s stock, valued at approximately $13,658,099.52. This trade represents a 8.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David J. Pauli sold 7,639 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total value of $395,700.20. Following the sale, the chief financial officer owned 66,807 shares in the company, valued at $3,460,602.60. This trade represents a 10.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 599,259 shares of company stock valued at $31,225,361 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in Zurn Elkay Water Solutions Cor in the third quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 249.8% in the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the last quarter. Whittier Trust Co. bought a new position in Zurn Elkay Water Solutions Cor during the second quarter valued at $26,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE ZWS opened at $50.64 on Friday. The company has a market cap of $8.45 billion, a P/E ratio of 44.03, a PEG ratio of 2.10 and a beta of 1.08. The company has a fifty day simple moving average of $48.31 and a 200 day simple moving average of $47.16. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $407.20 million for the quarter, compared to analyst estimates of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. Sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 38.26%.

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.