Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $45.50 Average PT from Analysts

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have received an average rating of “Hold” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $45.50.

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada started coverage on Zurn Elkay Water Solutions Cor in a research report on Monday, January 5th. They set a “sector perform” rating and a $49.00 price target on the stock. Mizuho set a $49.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Oppenheimer set a $53.00 price target on Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th.

Zurn Elkay Water Solutions Cor Stock Down 0.8%

Shares of Zurn Elkay Water Solutions Cor stock opened at $46.14 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The company has a market cap of $7.72 billion, a P/E ratio of 41.20, a PEG ratio of 1.92 and a beta of 1.08. The firm’s 50 day moving average price is $47.06 and its 200-day moving average price is $45.87. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $50.03.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 39.29%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 7,461 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $47.50, for a total value of $354,397.50. Following the transaction, the director directly owned 162,000 shares of the company’s stock, valued at $7,695,000. This represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several large investors have recently added to or reduced their stakes in ZWS. HM Payson & Co. raised its stake in shares of Zurn Elkay Water Solutions Cor by 12.0% in the third quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock worth $108,000 after purchasing an additional 246 shares during the last quarter. Fifth Third Bancorp raised its position in Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after buying an additional 256 shares during the last quarter. Archer Investment Corp lifted its stake in Zurn Elkay Water Solutions Cor by 8.9% during the 3rd quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock valued at $169,000 after acquiring an additional 295 shares during the period. Thrive Wealth Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 3.8% in the 3rd quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock valued at $410,000 after acquiring an additional 323 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Zurn Elkay Water Solutions Cor by 12.5% in the second quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock worth $112,000 after acquiring an additional 339 shares during the period. 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.