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 Friday, May 3rd, Wall Street Journal reports. Investors of record on Monday, May 20th will be paid a dividend of 0.08 per share on Friday, June 7th. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, May 17th.

Zurn Elkay Water Solutions has decreased its dividend payment by an average of 3.2% annually over the last three years and has increased its dividend every year for the last 2 years. Zurn Elkay Water Solutions has a dividend payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Zurn Elkay Water Solutions to earn $1.31 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 24.4%.

Zurn Elkay Water Solutions Stock Up 0.0 %

ZWS stock traded up $0.01 during midday trading on Friday, hitting $31.64. 615,724 shares of the company’s stock were exchanged, compared to its average volume of 982,571. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 1.63 and a beta of 1.21. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $31.97 and a 200-day moving average price of $30.16. Zurn Elkay Water Solutions has a 12-month low of $20.70 and a 12-month high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, analysts anticipate that Zurn Elkay Water Solutions will post 1.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZWS. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Oppenheimer lifted their target price on 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. BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Mizuho cut shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Hold” and a consensus price target of $33.50.

Insider Activity

In other Zurn Elkay Water Solutions news, CFO Mark W. Peterson sold 70,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.88, for a total value of $2,301,600.00. Following the sale, the chief financial officer now directly owns 302,299 shares in the company, valued at $9,939,591.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Mark W. Peterson sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.88, for a total transaction of $2,301,600.00. Following the completion of the sale, the chief financial officer now directly owns 302,299 shares in the company, valued at $9,939,591.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the completion of the transaction, the insider now owns 24,998,760 shares in the company, valued at approximately $804,460,096.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 741,506 shares of company stock worth $23,964,936. 3.80% of the stock is owned by company 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.