Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Rating Lowered by Zacks Research

Zurn Elkay Water Solutions Cor (NYSE:ZWS) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Marketbeat Ratings reports.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group assumed 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday. Oppenheimer set a $53.00 price objective on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a report on Friday, October 31st. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.00.

Zurn Elkay Water Solutions Cor Trading Down 0.9%

Zurn Elkay Water Solutions Cor stock opened at $47.36 on Monday. The stock has a market cap of $7.93 billion, a P/E ratio of 42.29, a PEG ratio of 2.27 and a beta of 1.08. The firm’s 50 day moving average price is $47.09 and its 200-day moving average price is $44.33. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $50.03. 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 (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The business had revenue of $455.40 million for the quarter, compared to analysts’ expectations of $442.62 million. During the same quarter in the previous year, the company earned $0.34 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Timothy J. Jahnke sold 7,461 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $47.50, for a total value of $354,397.50. Following the sale, the director directly owned 162,000 shares of the company’s stock, valued at $7,695,000. This represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 20,100 shares of company stock worth $960,105. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its position in Zurn Elkay Water Solutions Cor by 1,714.8% during the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares during the period. Norges Bank acquired a new stake in Zurn Elkay Water Solutions Cor during the second quarter worth about $64,266,000. Zimmer Partners LP acquired a new stake in Zurn Elkay Water Solutions Cor during the first quarter worth about $50,344,000. Impax Asset Management Group plc lifted its holdings in Zurn Elkay Water Solutions Cor by 22.8% in the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after acquiring an additional 916,850 shares during the period. Finally, MAI Capital Management boosted its position in Zurn Elkay Water Solutions Cor by 120,771.6% in the 3rd quarter. MAI Capital Management now owns 293,718 shares of the company’s stock worth $13,814,000 after purchasing an additional 293,475 shares in the last quarter. 83.33% of the stock is currently 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.