Zurn Elkay Water Solutions Cor (NYSE:ZWS) Issues Earnings Results

Zurn Elkay Water Solutions Cor (NYSE:ZWS) released its earnings results on Tuesday. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03, FiscalAI reports. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.09 million.

Zurn Elkay Water Solutions Cor Trading Up 0.8%

ZWS traded up $0.39 on Tuesday, reaching $49.16. 1,214,124 shares of the company’s stock were exchanged, compared to its average volume of 1,042,211. The company’s 50 day moving average is $48.28 and its 200-day moving average is $48.29. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 1.91 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a twelve month low of $37.90 and a twelve month 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.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, August 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 presently 35.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ZWS shares. Robert W. Baird cut their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Oppenheimer restated an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Stifel Nicolaus dropped their target price on Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Finally, Royal Bank Of Canada raised their price target on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZWS. First Trust Advisors LP raised its stake in shares of Zurn Elkay Water Solutions Cor by 51.9% in the 4th quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after acquiring an additional 1,128,917 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 78.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock worth $42,161,000 after purchasing an additional 399,180 shares in the last quarter. UBS Group AG boosted its position in shares of Zurn Elkay Water Solutions Cor by 157.0% in the third quarter. UBS Group AG now owns 479,166 shares of the company’s stock worth $22,535,000 after buying an additional 292,747 shares during the period. Federated Hermes Inc. grew its stake in shares of Zurn Elkay Water Solutions Cor by 18,251.2% in the fourth quarter. Federated Hermes Inc. now owns 280,223 shares of the company’s stock valued at $13,028,000 after buying an additional 278,696 shares in the last quarter. Finally, Oberweis Asset Management Inc. purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter valued at about $12,510,000. 83.33% of the stock is owned by institutional investors and hedge funds.

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.