Zurn Elkay Water Solutions (NYSE:ZWS) Releases Earnings Results

Zurn Elkay Water Solutions (NYSE:ZWS) issued its earnings results on Tuesday. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04, Zacks reports. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%.

Zurn Elkay Water Solutions Trading Up 1.0 %

NYSE:ZWS traded up $0.39 during trading hours on Tuesday, hitting $39.53. 1,117,969 shares of the company were exchanged, compared to its average volume of 884,166. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 50.03, a price-to-earnings-growth ratio of 1.83 and a beta of 1.15. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a one year low of $28.25 and a one year high of $41.15. The company has a fifty day simple moving average of $38.55 and a 200 day simple moving average of $35.89.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Thursday, February 20th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.57%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, CEO Todd A. Adams sold 120,000 shares of Zurn Elkay Water Solutions stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. This trade represents a 5.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David J. Pauli sold 4,070 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the completion of the transaction, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at approximately $1,862,443.80. This trade represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,202 shares of company stock valued at $5,061,558 in the last three months. Insiders own 3.80% of the company’s stock.

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.