Zurn Elkay Water Solutions Co. (NYSE:ZWS) Announces $0.08 Quarterly Dividend

Zurn Elkay Water Solutions Co. (NYSE:ZWS) declared a quarterly dividend on Friday, July 26th, Wall Street Journal reports. Shareholders of record on Tuesday, August 20th will be given a dividend of 0.08 per share on Friday, September 6th. This represents a $0.32 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, August 20th.

Zurn Elkay Water Solutions has decreased its dividend payment by an average of 3.2% annually over the last three years. Zurn Elkay Water Solutions has a dividend payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Zurn Elkay Water Solutions to earn $1.32 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 24.2%.

Zurn Elkay Water Solutions Trading Up 2.7 %

Zurn Elkay Water Solutions stock traded up $0.84 during trading hours on Friday, reaching $32.40. 864,163 shares of the company’s stock were exchanged, compared to its average volume of 952,707. The firm has a market capitalization of $5.60 billion, a PE ratio of 45.77, a PEG ratio of 1.69 and a beta of 1.15. Zurn Elkay Water Solutions has a twelve month low of $25.09 and a twelve month high of $34.58. The firm’s 50 day simple moving average is $30.61 and its 200 day simple moving average is $31.10. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data 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. 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 prior year, the firm earned $0.18 EPS. The business’s revenue was up .5% on a year-over-year basis. Research analysts predict that Zurn Elkay Water Solutions will post 1.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZWS. Stifel Nicolaus boosted their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Oppenheimer raised their price objective on shares of 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. Finally, 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 for the company in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.00.

Insiders Place Their Bets

In other news, major shareholder Aimee Katz sold 8,240 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $29.14, for a total value of $240,113.60. Following the transaction, the insider now owns 23,565,924 shares in the company, valued at approximately $686,711,025.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Ice Mountain Llc sold 36,938 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $30.44, for a total transaction of $1,124,392.72. Following the completion of the transaction, the insider now directly owns 23,682,793 shares of the company’s stock, valued at approximately $720,904,218.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Aimee Katz sold 8,240 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $29.14, for a total transaction of $240,113.60. Following the completion of the sale, the insider now directly owns 23,565,924 shares in the company, valued at approximately $686,711,025.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,442 shares of company stock valued at $7,716,844. Corporate insiders own 3.80% of the company’s stock.

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.