Zurn Elkay Water Solutions Cor (NYSE:ZWS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $45.50.

Several equities analysts have recently weighed in on the company. Oppenheimer set a $53.00 price objective on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a report on Friday, October 31st. Zacks Research lowered shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Royal Bank Of Canada assumed coverage on shares of Zurn Elkay Water Solutions Cor in a report on Monday, January 5th. They issued a “sector perform” rating and a $49.00 price target for the company. Mizuho set a $49.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Finally, Jefferies Financial Group began coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective on the stock.

Zurn Elkay Water Solutions Cor Price Performance

ZWS opened at $46.91 on Tuesday. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $50.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.83. The company’s 50 day simple moving average is $47.05 and its 200-day simple moving average is $46.00. The stock has a market capitalization of $7.85 billion, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 39.29%.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 7,461 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $47.50, for a total transaction of $354,397.50. Following the transaction, the director owned 162,000 shares of the company’s stock, valued at $7,695,000. The trade was a 4.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. HM Payson & Co. increased its stake in 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 valued at $108,000 after acquiring an additional 246 shares during the last quarter. Fifth Third Bancorp raised its stake in Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after acquiring an additional 256 shares in the last quarter. Archer Investment Corp raised its stake in Zurn Elkay Water Solutions Cor by 8.9% during the third quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock worth $169,000 after acquiring an additional 295 shares in the last quarter. Thrive Wealth Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 3.8% in the third quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock worth $410,000 after acquiring an additional 323 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Zurn Elkay Water Solutions Cor by 12.5% in the 2nd quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock valued at $112,000 after purchasing an additional 339 shares in the last quarter. Institutional investors and hedge funds 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.