Zurn Elkay Water Solutions Cor (NYSE:ZWS) Announces Earnings Results

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

Zurn Elkay Water Solutions Cor Trading Up 0.0%

ZWS stock traded up $0.01 during midday trading on Tuesday, reaching $47.79. 1,904,987 shares of the company traded hands, compared to its average volume of 1,039,531. Zurn Elkay Water Solutions Cor has a 52-week low of $29.94 and a 52-week high of $53.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. The business has a 50 day moving average of $47.78 and a 200-day moving average of $47.35. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 41.55, a P/E/G ratio of 1.99 and a beta of 1.07.

Zurn Elkay Water Solutions Cor Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ZWS shares. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Stifel Nicolaus dropped their price target on Zurn Elkay Water Solutions Cor from $59.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Oppenheimer raised their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada upped their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, VP Jeffrey J. Lavalle sold 6,097 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total value of $315,824.60. Following the completion of the sale, the vice president directly owned 49,803 shares in the company, valued at $2,579,795.40. This trade represents a 10.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sudhanshu Chhabra sold 2,021 shares of Zurn Elkay Water Solutions Cor stock in a transaction 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 599,259 shares of company stock worth $31,225,361. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new stake in Zurn Elkay Water Solutions Cor in the 4th quarter worth about $35,000. Allworth Financial LP raised its position in Zurn Elkay Water Solutions Cor by 507.5% in the 3rd quarter. Allworth Financial LP now owns 978 shares of the company’s stock worth $46,000 after purchasing an additional 817 shares during the period. UMB Bank n.a. lifted its stake in Zurn Elkay Water Solutions Cor by 24.2% in the fourth quarter. UMB Bank n.a. now owns 1,233 shares of the company’s stock worth $57,000 after purchasing an additional 240 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Zurn Elkay Water Solutions Cor in the third quarter worth about $61,000. Institutional investors own 83.33% of the company’s stock.

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.