Zurn Elkay Water Solutions Corp (NYSE: ZWS) stock fell -2.74% on Monday to $29.47 against a previous-day closing price of $30.30. With 1.49 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.2 million shares. The 52-week range on ZWS shows that it touched its highest point at $30.87 and its lowest point at $19.29 during that stretch. It currently has a 1-year price target of $30.43. With its current market cap of 5.09 billion, ZWS has annualized dividend of $0.24 while the current yield stands at 0.80%. Beta for the stock currently stands at 1.32.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ZWS was up-trending over the past week, with a rise of 3.04%, but this was up by 15.16% over a month. Three-month performance surged to 2.83% while six-month performance rose 29.77%. The stock gained 24.93% in the past year, while it has gained 39.34% so far this year. A look at the trailing 12-month EPS for ZWS yields 0.62 with Next year EPS estimates of 1.09. For the next quarter, that number is 0.23. This implies an EPS growth rate of 0.91% for this year and 14.91% for next year. EPS is expected to grow by 11.49% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -9.85%.
Float and Shares Shorts:
At present, 176.88 million ZWS shares are outstanding with a float of 140.96 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.27 million, which was 3.05% higher than short shares on Sep 28, 2023. In addition to Mr. Todd A. Adams as the firm’s President, CEO & Chairman, Mr. Mark W. Peterson serves as its Senior VP & CFO.
Other institutions hold 47.05% of ZWS, in contrast to 37.16% held by mutual funds. Shares owned by individuals account for 18.55%. As the largest shareholder in ZWS with 7.70% of the stake, The Vanguard Group, Inc. holds 13,310,386 shares worth 13,310,386. A second-largest stockholder of ZWS, Impax Asset Management Ltd., holds 10,660,901 shares, controlling over 6.16% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in ZWS, holding 10,592,883 shares or 6.13% stake. With a 2.51% stake in ZWS, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,340,643 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.06% of ZWS stock, is the second-largest Mutual Fund holder. It holds 3,568,972 shares valued at 94.43 million. iShares Russell 2000 ETF holds 1.99% of the stake in ZWS, owning 3,434,138 shares worth 90.87 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ZWS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ZWS analysts setting a high price target of $34.00 and a low target of $26.00, the average target price over the next 12 months is $30.43. Based on these targets, ZWS could surge 15.37% to reach the target high and fall by -11.77% to reach the target low. Reaching the average price target will result in a growth of 3.26% from current levels.
Summary of Insider Activity:
Insiders traded ZWS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 325,408 while 216,790 shares were sold.