Brokerages Set Zurn Elkay Water Solutions Cor (NYSE:ZWS) Price Target at $54.88

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $55.3333.

Several brokerages have commented on ZWS. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada raised their target price on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Robert W. Baird decreased their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Oppenheimer restated 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. Finally, Barclays initiated coverage on Zurn Elkay Water Solutions Cor in a research report on Tuesday. They issued an “overweight” rating and a $59.00 target price on the stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

A number of institutional investors have recently added to or reduced their stakes in the stock. Cim Investment Management Inc. lifted its position in Zurn Elkay Water Solutions Cor by 29.7% during the first quarter. Cim Investment Management Inc. now owns 6,041 shares of the company’s stock worth $271,000 after buying an additional 1,384 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Zurn Elkay Water Solutions Cor during the first quarter worth approximately $1,189,000. Arkadios Wealth Advisors purchased a new position in Zurn Elkay Water Solutions Cor during the first quarter worth approximately $2,076,000. Smith Group Asset Management LLC purchased a new position in Zurn Elkay Water Solutions Cor during the first quarter worth approximately $1,724,000. Finally, EverSource Wealth Advisors LLC lifted its position in Zurn Elkay Water Solutions Cor by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,584 shares of the company’s stock worth $250,000 after buying an additional 1,924 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 1.3%

Shares of ZWS opened at $50.56 on Friday. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12 month low of $35.73 and a 12 month high of $53.76. The stock’s 50 day moving average is $49.27 and its two-hundred day moving average is $48.20. The firm has a market cap of $8.44 billion, a P/E ratio of 40.77, a PEG ratio of 1.97 and a beta of 1.06.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. During the same period last year, the company earned $0.31 earnings per share. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 35.48%.

About Zurn Elkay Water Solutions Cor

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.