Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $55.00 Consensus Price Target from Analysts

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $55.00.

Several research analysts have recently weighed in on the stock. UBS Group set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their target price on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Stifel Nicolaus reduced their price target on Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday. Finally, Robert W. Baird lowered their price target on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $48.28 on Tuesday. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 1.88 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 1-year low of $37.25 and a 1-year high of $53.76. The company’s fifty day simple moving average is $48.26 and its 200 day simple moving average is $48.26. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The firm had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $418.99 million. During the same quarter last year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were paid 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 was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZWS. Thrive Wealth Management LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 5.9% during the 2nd quarter. Thrive Wealth Management LLC now owns 8,702 shares of the company’s stock valued at $440,000 after purchasing an additional 483 shares during the last quarter. GAMMA Investing LLC boosted its position in Zurn Elkay Water Solutions Cor by 9.8% during the second quarter. GAMMA Investing LLC now owns 3,708 shares of the company’s stock worth $187,000 after purchasing an additional 331 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of Zurn Elkay Water Solutions Cor by 17.3% in the second quarter. Central Pacific Bank Trust Division now owns 3,861 shares of the company’s stock valued at $195,000 after purchasing an additional 570 shares during the last quarter. Pacific Excel Wealth Advisors Inc. acquired a new position in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at $270,000. Finally, Cim Investment Management Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 29.7% in the first quarter. Cim Investment Management Inc. now owns 6,041 shares of the company’s stock valued at $271,000 after purchasing an additional 1,384 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

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.