Zurn Elkay Water Solutions Cor (NYSE:ZWS) Issues Earnings Results, Beats Estimates By $0.04 EPS

Zurn Elkay Water Solutions Cor (NYSE:ZWS) posted its quarterly earnings data on Tuesday. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04, FiscalAI reports. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The company had revenue of $433.00 million during the quarter, compared to analyst estimates of $418.99 million.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS stock traded up $0.01 during trading hours on Tuesday, hitting $47.79. The stock had a trading volume of 1,905,188 shares, compared to its average volume of 1,050,108. Zurn Elkay Water Solutions Cor has a one year low of $29.94 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 stock’s 50-day moving average price is $47.78 and its two-hundred day moving average price is $47.35. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 1.99 and a beta of 1.07.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 38.26%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 2,021 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total transaction of $102,767.85. Following the sale, the vice president directly owned 69,556 shares of the company’s stock, valued at $3,536,922.60. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy J. Jahnke sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total value of $1,279,500.00. Following the sale, the director directly owned 266,864 shares in the company, valued at $13,658,099.52. The trade was a 8.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 599,259 shares of company stock valued at $31,225,361. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. First Trust Advisors LP boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 51.9% in the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after purchasing an additional 1,128,917 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 78.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock valued at $42,161,000 after purchasing an additional 399,180 shares during the period. UBS Group AG boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 157.0% in the third quarter. UBS Group AG now owns 479,166 shares of the company’s stock valued at $22,535,000 after purchasing an additional 292,747 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 18,251.2% in the fourth quarter. Federated Hermes Inc. now owns 280,223 shares of the company’s stock valued at $13,028,000 after purchasing an additional 278,696 shares during the period. Finally, Oberweis Asset Management Inc. purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at approximately $12,510,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ZWS. The Goldman Sachs Group reaffirmed 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. Oppenheimer increased their target price on 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 Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Royal Bank Of Canada raised their price target on 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. Finally, Stifel Nicolaus dropped their price target on Zurn Elkay Water Solutions Cor from $59.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

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.