Brokerages Set Zurn Elkay Water Solutions Cor (NYSE:ZWS) Price Target at $54.88

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $54.8750.

ZWS has been the subject of a number of research reports. Weiss Ratings upgraded shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Robert W. Baird lowered their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Oppenheimer restated an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd.

Zurn Elkay Water Solutions Cor Trading Down 0.2%

NYSE ZWS opened at $47.35 on Monday. The company has a market capitalization of $7.90 billion, a PE ratio of 38.19, a P/E/G ratio of 1.88 and a beta of 1.06. The company has a fifty day moving average of $48.28 and a 200 day moving average of $47.91. Zurn Elkay Water Solutions Cor has a 1 year low of $35.06 and a 1 year high of $53.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were paid a $0.11 dividend. 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%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Several institutional investors and hedge funds have recently modified their holdings of the business. Cim Investment Management Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 29.7% in the 1st 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 in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $1,189,000. Arkadios Wealth Advisors purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $2,076,000. Smith Group Asset Management LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $1,724,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Zurn Elkay Water Solutions Cor by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,584 shares of the company’s stock worth $250,000 after purchasing an additional 1,924 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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.