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

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 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, February 20th.

Zurn Elkay Water Solutions has increased its dividend by an average of 3.2% per year over the last three years. Zurn Elkay Water Solutions has a dividend payout ratio of 24.0% meaning 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 Stock Performance

Shares of Zurn Elkay Water Solutions stock traded up $0.19 during midday trading on Friday, hitting $39.49. The company had a trading volume of 797,505 shares, compared to its average volume of 859,901. The business’s 50 day simple moving average is $38.58 and its two-hundred day simple moving average is $35.72. The stock has a market cap of $6.70 billion, a PE ratio of 49.99, a P/E/G ratio of 1.81 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. Zurn Elkay Water Solutions has a 1-year low of $28.25 and a 1-year high of $41.15.

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

Wall Street Analyst Weigh In

ZWS has been the topic of a number of recent research reports. Robert W. Baird lifted their price target 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. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Mizuho boosted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Oppenheimer boosted 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 assigned a buy rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

Insider Activity at Zurn Elkay Water Solutions

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