Zurn Elkay Water Solutions (ZWS) to Release Quarterly Earnings on Tuesday

Zurn Elkay Water Solutions (NYSE:ZWS) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.26 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $356.80 million during the quarter, compared to analyst estimates of $350.55 million. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. On average, analysts expect Zurn Elkay Water Solutions to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Zurn Elkay Water Solutions Price Performance

ZWS opened at $31.69 on Monday. The firm has a market cap of $5.49 billion, a P/E ratio of 48.75, a PEG ratio of 1.76 and a beta of 1.22. The firm has a 50-day moving average of $31.90 and a 200 day moving average of $29.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.02. Zurn Elkay Water Solutions has a fifty-two week low of $20.06 and a fifty-two week high of $34.58.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 16th. This represents a $0.32 annualized dividend and a yield of 1.01%. Zurn Elkay Water Solutions’s payout ratio is currently 49.23%.

Analysts Set New Price Targets

ZWS has been the subject of several research reports. Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Friday, February 9th. Finally, BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.75.

Insider Transactions at Zurn Elkay Water Solutions

In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the sale, the insider now directly owns 24,998,760 shares of the company’s stock, valued at $804,460,096.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the sale, the insider now directly owns 24,998,760 shares of the company’s stock, valued at $804,460,096.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd A. Adams sold 129,604 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the completion of the sale, the chief executive officer now directly owns 1,828,550 shares in the company, valued at $60,451,863. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 448,234 shares of company stock valued at $14,573,307. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in Zurn Elkay Water Solutions by 1,087.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,354 shares of the company’s stock valued at $28,000 after purchasing an additional 1,240 shares in the last quarter. IFP Advisors Inc raised its stake in Zurn Elkay Water Solutions by 50.0% in the second quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock valued at $40,000 after purchasing an additional 500 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Zurn Elkay Water Solutions in the first quarter valued at approximately $64,000. KBC Group NV purchased a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at approximately $63,000. Finally, Advisor Group Holdings Inc. raised its stake in Zurn Elkay Water Solutions by 30.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 4,127 shares of the company’s stock valued at $88,000 after purchasing an additional 963 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

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.