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.
Institutional Ownership:
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.
Analysts Ratings:
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.
