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

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

Zurn Elkay Water Solutions Stock Up 1.0 %

Zurn Elkay Water Solutions stock traded up $0.39 during trading on Tuesday, reaching $39.53. The stock had a trading volume of 1,117,969 shares, compared to its average volume of 884,166. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a 52-week low of $28.25 and a 52-week high of $41.15. The stock has a market cap of $6.71 billion, a PE ratio of 50.03, a P/E/G ratio of 1.83 and a beta of 1.15. The business has a 50 day moving average price of $38.55 and a 200 day moving average price of $35.89.

Zurn Elkay Water Solutions Announces Dividend

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

Analyst Ratings Changes

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

Insider Activity at Zurn Elkay Water Solutions

In other news, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $122,617.80. Following the transaction, the vice president now owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. The trade was 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 over the last quarter. 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.