Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives Consensus Rating of “Hold” from Brokerages

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been given a consensus rating of “Hold” by the nine research firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $51.6250.

ZWS has been the topic of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Stifel Nicolaus set a $59.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Oppenheimer raised their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Robert W. Baird set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Finally, Royal Bank Of Canada boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 5th.

Insider Buying and Selling

In other news, CFO David J. Pauli sold 812 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $51.61, for a total transaction of $41,907.32. Following the completion of the transaction, the chief financial officer directly owned 65,995 shares in the company, valued at $3,406,001.95. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd A. Adams sold 275,050 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total value of $14,242,089.00. Following the completion of the transaction, the chief executive officer directly owned 2,256,684 shares in the company, valued at approximately $116,851,097.52. This represents a 10.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 599,259 shares of company stock valued at $31,225,361. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in shares of Zurn Elkay Water Solutions Cor by 262.7% in the 4th quarter. Hsbc Holdings PLC now owns 16,248 shares of the company’s stock valued at $757,000 after purchasing an additional 11,768 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Zurn Elkay Water Solutions Cor by 521.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 16,465 shares of the company’s stock worth $766,000 after buying an additional 13,817 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 9.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,673,479 shares of the company’s stock valued at $77,800,000 after buying an additional 145,029 shares during the period. Tudor Investment Corp ET AL lifted its holdings in Zurn Elkay Water Solutions Cor by 534.5% in the fourth quarter. Tudor Investment Corp ET AL now owns 289,242 shares of the company’s stock valued at $13,447,000 after buying an additional 243,654 shares during the period. Finally, Occudo Quantitative Strategies LP boosted its position in Zurn Elkay Water Solutions Cor by 8.2% during the fourth quarter. Occudo Quantitative Strategies LP now owns 26,432 shares of the company’s stock valued at $1,229,000 after acquiring an additional 2,004 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $45.51 on Wednesday. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $53.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 1.88 and a beta of 1.04. The firm has a 50 day simple moving average of $48.37 and a 200 day simple moving average of $47.40.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The firm had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 38.26%.

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.