Zurn Elkay Water Solutions Cor (NYSE:ZWS) Hits New 12-Month High on Strong Earnings

Zurn Elkay Water Solutions Cor (NYSE:ZWS)’s share price hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $52.76 and last traded at $51.6140, with a volume of 205158 shares changing hands. The stock had previously closed at $47.06.

The company reported $0.36 EPS 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 the consensus estimate of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm 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 is Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.8%. Zurn Elkay Water Solutions Cor’s payout ratio is presently 39.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ZWS shares. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Zacks Research lowered Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Finally, Jefferies Financial Group started 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 target price on the stock. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of “Hold” and a consensus target price of $45.50.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 10,539 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $47.51, for a total value of $500,707.89. Following the completion of the transaction, the director directly owned 169,461 shares of the company’s stock, valued at approximately $8,051,092.11. This represents a 5.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

A number of institutional investors have recently made changes to their positions in ZWS. Advisory Services Network LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at about $25,000. Whittier Trust Co. acquired a new position in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at about $26,000. First Horizon Advisors Inc. raised its stake in Zurn Elkay Water Solutions Cor by 249.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $26,000. Finally, Fifth Third Bancorp increased its stake in Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after acquiring an additional 256 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Price Performance

The company has a current ratio of 2.78, a quick ratio of 1.83 and a debt-to-equity ratio of 0.31. The firm has a market cap of $8.68 billion, a P/E ratio of 46.16, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. The business has a 50-day moving average of $47.03 and a two-hundred day moving average of $46.07.

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.