Key Points
- Director insider buying: Jacques Donavon Butler purchased 2,016 Zurn Elkay Water Solutions shares for about $99,994, increasing his direct stake by 5.68% to 37,487 shares.
- Strong quarterly results: Zurn Elkay reported adjusted earnings of $0.50 per share and revenue of $491 million, surpassing estimates, while revenue grew 10.5% year over year.
- Positive analyst outlook and dividend: Analysts give the stock a “Moderate Buy” consensus rating with an average $57.22 price target. The company also declared a quarterly dividend of $0.11 per share, representing a 0.9% annualized yield.
Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) Director Jacques Donavon Butler purchased 2,016 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $49.60 per share, with a total value of $99,993.60. Following the purchase, the director directly owned 37,487 shares in the company, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Zurn Elkay Water Solutions Cor Stock Performance
Shares of ZWS opened at $49.10 on Friday. The firm has a market capitalization of $8.14 billion, a P/E ratio of 30.31, a P/E/G ratio of 1.85 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 52 week low of $43.06 and a 52 week high of $55.00. The stock has a 50 day moving average price of $49.46 and a two-hundred day moving average price of $48.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05.
Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The company's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. Equities analysts forecast that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current fiscal year.
Zurn Elkay Water Solutions Cor Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is presently 27.16%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. Robert W. Baird set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, July 30th. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Zacks Research upgraded Zurn Elkay Water Solutions Cor from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of "Moderate Buy" and an average target price of $57.22.
Read Our Latest Analysis on Zurn Elkay Water Solutions Cor
Institutional Trading of Zurn Elkay Water Solutions Cor
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter valued at $1,241,345,000. Bank of America Corp DE purchased a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $278,160,000. Jupiter Topco LLC purchased a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $172,287,000. Norges Bank bought a new stake in Zurn Elkay Water Solutions Cor in the 4th quarter valued at about $111,341,000. Finally, First Trust Advisors LP raised its stake in Zurn Elkay Water Solutions Cor by 51.9% in the 4th quarter. First Trust Advisors LP now owns 3,303,735 shares of the company's stock valued at $153,591,000 after acquiring an additional 1,128,917 shares during the period. 83.33% of the stock is currently owned by institutional investors.
Zurn Elkay Water Solutions Cor Company Profile
(
Get Free Report)
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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