Zurn Elkay Water Solutions Cor (ZWS) – What Are Brokerages Saying About This Stock?

Zurn Elkay Water Solutions Cor (NYSE:ZWS) has received an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $54.67.

Several analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Mizuho set a $48.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 29th. Royal Bank Of Canada cut their price target on Zurn Elkay Water Solutions Cor from $54.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 29th. Finally, Robert W. Baird set a $50.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 29th.

Zurn Elkay Water Solutions Cor Stock Up 2.8%

Shares of ZWS stock opened at $45.34 on Thursday. The stock’s 50-day simple moving average is $46.84 and its 200-day simple moving average is $48.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.95 and a current ratio of 2.85. The firm has a market capitalization of $7.49 billion, a PE ratio of 24.65, a P/E/G ratio of 1.59 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a fifty-two week low of $42.89 and a fifty-two week high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $495.10 million during the quarter, compared to analysts’ expectations of $493.36 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.46% and a net margin of 15.91%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. Equities analysts expect that Zurn Elkay Water Solutions Cor will post 1.86 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Friday, November 20th will be paid a $0.13 dividend. The ex-dividend date is Friday, November 20th. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.1%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 25.73%.

Insider Buying and Selling

In related news, Director Jacques Butler bought 2,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average cost of $49.60 per share, with a total value of $99,993.60. Following the completion of the acquisition, the director directly owned 37,487 shares in the company, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. New York Life Investment Management LLC increased its holdings in Zurn Elkay Water Solutions Cor by 16.7% in the 3rd quarter. New York Life Investment Management LLC now owns 20,617 shares of the company’s stock worth $958,000 after acquiring an additional 2,947 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Zurn Elkay Water Solutions Cor by 52.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 79,711 shares of the company’s stock worth $3,762,000 after acquiring an additional 27,284 shares during the period. Candriam S.C.A. lifted its holdings in Zurn Elkay Water Solutions Cor by 6.6% during the third quarter. Candriam S.C.A. now owns 156,129 shares of the company’s stock valued at $7,282,000 after purchasing an additional 9,624 shares in the last quarter. Ethic Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 19.8% during the third quarter. Ethic Inc. now owns 4,994 shares of the company’s stock valued at $232,000 after purchasing an additional 824 shares in the last quarter. Finally, StoneX Group Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at about $250,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.