Zurn Elkay Water Solutions Co. (NYSE:ZWS) Announces Quarterly Dividend of $0.08

Zurn Elkay Water Solutions Co. (NYSE:ZWS) declared a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Investors of record on Tuesday, August 20th will be given a dividend of 0.08 per share on Friday, September 6th. This represents a $0.32 annualized dividend and a yield of 0.99%. The ex-dividend date is Tuesday, August 20th.

Zurn Elkay Water Solutions has decreased its dividend by an average of 3.2% annually over the last three years. Zurn Elkay Water Solutions has a payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Zurn Elkay Water Solutions to earn $1.32 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 24.2%.

Zurn Elkay Water Solutions Trading Up 2.7 %

Shares of Zurn Elkay Water Solutions stock traded up $0.84 during trading hours on Friday, hitting $32.40. The company’s stock had a trading volume of 864,163 shares, compared to its average volume of 952,707. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.60 billion, a PE ratio of 45.63, a P/E/G ratio of 1.69 and a beta of 1.15. The business has a fifty day moving average of $30.61 and a 200 day moving average of $31.10. Zurn Elkay Water Solutions has a 1-year low of $25.09 and a 1-year high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The company had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. During the same period last year, the company posted $0.18 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that Zurn Elkay Water Solutions will post 1.18 EPS for the current year.

Analyst Ratings Changes

ZWS has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Oppenheimer lifted their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, major shareholder Ice Mountain Llc sold 48,388 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $32.97, for a total value of $1,595,352.36. Following the completion of the sale, the insider now owns 24,220,544 shares of the company’s stock, valued at approximately $798,551,335.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 48,388 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $32.97, for a total transaction of $1,595,352.36. Following the transaction, the insider now owns 24,220,544 shares of the company’s stock, valued at approximately $798,551,335.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas Christopoul sold 10,495 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $32.11, for a total value of $336,994.45. Following the completion of the transaction, the director now owns 104,844 shares of the company’s stock, valued at approximately $3,366,540.84. The disclosure for this sale can be found here. Insiders have sold 251,442 shares of company stock worth $7,716,844 in the last ninety days. 3.80% of the stock is owned by insiders.

Zurn Elkay Water Solutions Company Profile

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.