Zurn Elkay Water Solutions Co. Announces Quarterly Dividend of $0.09 (NYSE:ZWS)

Zurn Elkay Water Solutions Co. (NYSE:ZWS) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders of record on Thursday, February 20th will be paid a dividend of 0.09 per share on Friday, March 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, February 20th.

Zurn Elkay Water Solutions has increased its dividend payment by an average of 3.2% annually over the last three years. Zurn Elkay Water Solutions has a dividend payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Zurn Elkay Water Solutions to earn $1.35 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 26.7%.

Zurn Elkay Water Solutions Trading Up 0.5 %

Shares of ZWS stock traded up $0.19 on Friday, reaching $39.49. The company had a trading volume of 797,505 shares, compared to its average volume of 859,901. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.70 billion, a PE ratio of 49.99, a PEG ratio of 1.81 and a beta of 1.15. The company has a 50-day moving average of $38.58 and a 200-day moving average of $35.72. Zurn Elkay Water Solutions has a 12 month low of $28.25 and a 12 month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business had revenue of $410.00 million during the quarter, compared to analyst estimates of $406.15 million. During the same period in the previous year, the firm earned $0.29 EPS. Zurn Elkay Water Solutions’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts forecast that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

ZWS has been the subject of several research analyst reports. Mizuho boosted their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Robert W. Baird boosted their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Finally, Oppenheimer lifted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.67.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the transaction, the chief financial officer now owns 47,572 shares of the company’s stock, valued at $1,862,443.80. The trade was a 7.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $122,617.80. Following the transaction, the vice president now directly owns 35,422 shares in the company, valued at $1,386,771.30. This trade represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,202 shares of company stock valued at $5,061,558 in the last 90 days. 3.80% of the stock is currently owned by insiders.

About Zurn Elkay Water Solutions

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.