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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) announced a quarterly dividend on Wednesday, October 23rd,NASDAQ Dividends reports. Investors of record on Wednesday, November 20th will be given a dividend of 0.09 per share on Friday, December 6th. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08.

Zurn Elkay Water Solutions has decreased its dividend payment by an average of 3.2% per year over the last three years. Zurn Elkay Water Solutions has a payout ratio of 26.9% 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 Stock Performance

Shares of Zurn Elkay Water Solutions stock opened at $39.18 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The firm has a market cap of $6.65 billion, a P/E ratio of 49.60, a P/E/G ratio of 1.97 and a beta of 1.14. The firm has a 50 day simple moving average of $36.31 and a 200 day simple moving average of $32.89. Zurn Elkay Water Solutions has a fifty-two week low of $27.55 and a fifty-two week high of $40.64.

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

Insider Transactions at Zurn Elkay Water Solutions

In related news, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the sale, the vice president now owns 80,151 shares of the company’s stock, valued at $2,608,915.05. This trade represents a 39.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David J. Pauli sold 4,070 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $159,340.50. Following the transaction, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,688 shares of company stock worth $8,400,151. Insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

ZWS has been the topic of several research reports. Oppenheimer lifted their price target 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Mizuho increased 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 research report on Thursday, October 31st. Finally, Robert W. Baird increased their price target on shares of 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $38.17.

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.