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

Zurn Elkay Water Solutions (NYSE:ZWS) announced its earnings results on Tuesday. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03, Briefing.com reports. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The company had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. During the same quarter in the previous year, the company posted $0.18 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock traded up $0.12 during midday trading on Friday, reaching $32.00. The company’s stock had a trading volume of 91,529 shares, compared to its average volume of 979,992. The firm has a market capitalization of $5.53 billion, a PE ratio of 44.90, a P/E/G ratio of 1.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.31. Zurn Elkay Water Solutions has a fifty-two week low of $20.06 and a fifty-two week high of $34.58. The stock’s 50 day simple moving average is $31.93 and its 200 day simple moving average is $29.99.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.07%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 249,582 shares of Zurn Elkay Water Solutions stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the completion of the sale, the insider now owns 24,505,660 shares in the company, valued at approximately $785,161,346.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Jeffrey A. Schoon sold 1,039 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.29, for a total transaction of $32,510.31. Following the completion of the sale, the president now owns 16,395 shares in the company, valued at approximately $512,999.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ice Mountain Llc sold 249,582 shares of Zurn Elkay Water Solutions stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the sale, the insider now owns 24,505,660 shares of the company’s stock, valued at approximately $785,161,346.40. The disclosure for this sale can be found here. Insiders sold 741,506 shares of company stock valued at $23,964,936 in the last 90 days. 3.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ZWS. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research note on Friday, February 9th. Oppenheimer upped their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average price target of $33.50.

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.