Zurn Elkay Water Solutions (NYSE:ZWS) Announces Quarterly Earnings Results

Zurn Elkay Water Solutions (NYSE:ZWS) released its quarterly earnings results on Tuesday. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02, Briefing.com reports. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The business had revenue of $410.00 million during the quarter, compared to analyst estimates of $406.15 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.9% on a year-over-year basis.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE:ZWS traded up $0.64 during mid-day trading on Thursday, reaching $36.54. The stock had a trading volume of 218,385 shares, compared to its average volume of 1,115,350. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.25 billion, a P/E ratio of 46.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. Zurn Elkay Water Solutions has a 1 year low of $25.54 and a 1 year high of $38.11. The business’s 50 day moving average price is $34.48 and its 200 day moving average price is $32.25.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be given a $0.09 dividend. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is currently 45.57%.

Wall Street Analysts Forecast Growth

ZWS has been the subject of a number of recent analyst reports. Robert W. Baird upped their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price objective on 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 upped their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Oppenheimer upped their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Four equities research 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 presently has an average rating of “Hold” and an average price target of $38.17.

Insider Buying and Selling

In related news, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the sale, the director now directly owns 345,017 shares in the company, valued at approximately $12,969,189.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 10,035 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total transaction of $351,225.00. Following the sale, the director now directly owns 374,982 shares in the company, valued at $13,124,370. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy J. Jahnke sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the sale, the director now owns 345,017 shares in the company, valued at approximately $12,969,189.03. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,486 shares of company stock worth $3,338,593. Corporate 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.