Zurn Elkay Water Solutions Cor (NYSE:ZWS) Hits New 52-Week High on Analyst Upgrade

Zurn Elkay Water Solutions Cor (NYSE:ZWS)’s share price hit a new 52-week high during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $53.00 to $59.00. Stifel Nicolaus currently has a buy rating on the stock. Zurn Elkay Water Solutions Cor traded as high as $53.69 and last traded at $53.6150, with a volume of 70096 shares trading hands. The stock had previously closed at $52.48.

ZWS has been the subject of several other research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Robert W. Baird reduced their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Finally, Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.75.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 2,021 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 69,556 shares in the company, valued at $3,536,922.60. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd A. Adams sold 275,050 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total transaction of $14,242,089.00. Following the completion of the transaction, the chief executive officer owned 2,256,684 shares of the company’s stock, valued at $116,851,097.52. This trade represents a 10.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 599,259 shares of company stock valued at $31,225,361. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Institutional investors have recently modified their holdings of the business. Nordea Investment Management AB purchased a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter valued at $7,356,000. JPMorgan Chase & Co. boosted its position in Zurn Elkay Water Solutions Cor by 8.4% in the third quarter. JPMorgan Chase & Co. now owns 1,457,689 shares of the company’s stock worth $68,555,000 after purchasing an additional 113,425 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 27.9% in the 3rd quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock worth $48,059,000 after purchasing an additional 223,168 shares during the period. Azzad Asset Management Inc. ADV bought a new position in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth approximately $1,205,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 1,714.8% in the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Up 0.1%

The company’s 50 day moving average price is $47.72 and its two-hundred day moving average price is $47.39. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.80 billion, a P/E ratio of 42.34, a PEG ratio of 2.00 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.45%. The business had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $418.99 million. During the same quarter last year, the company posted $0.31 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. Equities analysts forecast that Zurn Elkay Water Solutions Cor will post 1.66 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 38.26%.

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.