Zurn Elkay Water Solutions (NYSE:ZWS) Releases Earnings Results, Beats Expectations By $0.02 EPS

Zurn Elkay Water Solutions (NYSE:ZWS) released its quarterly earnings results on Tuesday. The company reported $0.34 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $406.15 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year.

Zurn Elkay Water Solutions Price Performance

ZWS stock traded up $0.04 during trading hours on Wednesday, hitting $35.96. 539,760 shares of the stock traded hands, compared to its average volume of 1,114,757. The stock has a 50-day simple moving average of $34.39 and a 200 day simple moving average of $32.22. The company has a market cap of $6.15 billion, a P/E ratio of 46.10, a P/E/G ratio of 1.94 and a beta of 1.14. Zurn Elkay Water Solutions has a one year low of $25.54 and a one year high of $38.11. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s payout ratio is currently 45.57%.

Insiders Place Their Bets

In other news, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the transaction, the vice president now owns 80,151 shares of the company’s stock, valued at $2,608,915.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the sale, the director now directly owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the sale, the vice president now owns 80,151 shares in the company, valued at $2,608,915.05. This represents a 0.00 % decrease in their position. 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. 3.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ZWS has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target 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. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.40.

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.