Zurn Elkay Water Solutions Cor (NYSE:ZWS) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Nine analysts rate Zurn Elkay Water Solutions a consensus “Moderate Buy,” with an average 12-month price target of $57.22 versus its $50.91 opening price.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.50 versus the $0.47 consensus and revenue of $491 million, up 10.5% year over year.
• Zurn Elkay declared a quarterly dividend of $0.11, equivalent to $0.44 annually and a 0.9% yield; institutional investors own approximately 83.33% of the stock.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $57.2222.

Several equities research analysts have recently weighed in on the company. Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. Barclays increased their price target on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Oppenheimer restated an "outperform" rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd.

Zurn Elkay Water Solutions Cor Trading Up 0.4%

Shares of NYSE:ZWS opened at $50.91 on Friday. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 1.92 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 1-year low of $43.06 and a 1-year high of $55.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05. The company has a 50 day moving average price of $49.31 and a 200 day moving average price of $48.73.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. On average, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued a $0.11 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor's dividend payout ratio is presently 27.16%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several institutional investors have recently made changes to their positions in the company. Kilter Group LLC bought a new stake in Zurn Elkay Water Solutions Cor during the second quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at $27,000. Kemnay Advisory Services Inc. acquired a new position in Zurn Elkay Water Solutions Cor in the fourth quarter worth about $35,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 138.9% in the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company's stock worth $37,000 after buying an additional 468 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

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.

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