Zurn Elkay Water Solutions Cor (NYSE:ZWS) Releases Earnings Results, Beats Expectations By $0.02 EPS

Zurn Elkay Water Solutions Cor (NYSE:ZWS) announced its earnings results on Tuesday. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02, FiscalAI reports. The business had revenue of $407.20 million for the quarter, compared to the consensus estimate of $400.75 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS opened at $47.09 on Wednesday. The stock has a market capitalization of $7.88 billion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. The business’s fifty day moving average price is $47.03 and its 200 day moving average price is $46.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.83. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $50.03.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 39.29%.

Analysts Set New Price Targets

ZWS has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They set a “buy” rating and a $58.00 price target on the stock. Zacks Research lowered Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Oppenheimer set a $53.00 price target on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a report on Friday, October 31st. Royal Bank Of Canada started coverage on Zurn Elkay Water Solutions Cor in a report on Monday, January 5th. They set a “sector perform” rating and a $49.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has an average rating of “Hold” and a consensus price target of $45.50.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 7,461 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $47.50, for a total transaction of $354,397.50. Following the sale, the director directly owned 162,000 shares of the company’s stock, valued at approximately $7,695,000. This represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new position in Zurn Elkay Water Solutions Cor in the third quarter valued at approximately $25,000. Allworth Financial LP boosted its position in Zurn Elkay Water Solutions Cor by 507.5% during the 3rd quarter. Allworth Financial LP now owns 978 shares of the company’s stock valued at $46,000 after purchasing an additional 817 shares during the period. Aquatic Capital Management LLC bought a new position in Zurn Elkay Water Solutions Cor during the 3rd quarter worth $61,000. Osaic Holdings Inc. increased its position in Zurn Elkay Water Solutions Cor by 15.6% in the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock worth $91,000 after buying an additional 341 shares during the period. Finally, Zacks Investment Management acquired a new stake in Zurn Elkay Water Solutions Cor in the third quarter worth $201,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.