Zurn Elkay Water Solutions Cor (NYSE:ZWS) Upgraded by Barclays to “Strong-Buy” Rating

Barclays upgraded shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Robert W. Baird reduced their target price 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 note on Thursday, April 23rd. UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Finally, Stifel Nicolaus raised their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.33.

Zurn Elkay Water Solutions Cor Price Performance

ZWS stock opened at $50.56 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. The business has a 50-day simple moving average of $49.27 and a two-hundred day simple moving average of $48.20. The company has a market capitalization of $8.44 billion, a P/E ratio of 40.77, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. Zurn Elkay Water Solutions Cor has a 52-week low of $35.73 and a 52-week high of $53.76.

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, topping 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 firm had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several large investors have recently made changes to their positions in ZWS. Invesco Ltd. raised its stake in shares of Zurn Elkay Water Solutions Cor by 3.5% during the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after purchasing an additional 201,299 shares during the period. State Street Corp grew its position in Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after buying an additional 30,483 shares during the period. Geode Capital Management LLC grew its position in Zurn Elkay Water Solutions Cor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock valued at $164,716,000 after buying an additional 15,232 shares during the period. Alliancebernstein L.P. increased its holdings in Zurn Elkay Water Solutions Cor by 1,714.8% during the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after buying an additional 3,184,048 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Zurn Elkay Water Solutions Cor by 51.9% during the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock worth $153,591,000 after buying an additional 1,128,917 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

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.