Zurn Elkay Water Solutions (NYSE:ZWS) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Zurn Elkay Water Solutions (NYSE:ZWS) announced its quarterly earnings data on Tuesday. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03, Briefing.com reports. The company had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. Zurn Elkay Water Solutions’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS.

Zurn Elkay Water Solutions Trading Down 1.2 %

Shares of ZWS stock traded down $0.38 during trading hours on Wednesday, hitting $32.37. 343,546 shares of the company were exchanged, compared to its average volume of 964,610. Zurn Elkay Water Solutions has a 1 year low of $20.06 and a 1 year high of $34.58. The firm has a fifty day moving average of $31.93 and a 200 day moving average of $29.96. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. The firm has a market cap of $5.60 billion, a PE ratio of 49.66, a PEG ratio of 1.78 and a beta of 1.22.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, February 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. Zurn Elkay Water Solutions’s payout ratio is currently 49.23%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ZWS. Mizuho cut shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Friday, February 9th. Oppenheimer increased 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, BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions has an average rating of “Hold” and an average target price of $32.75.

Insider Activity at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 43,690 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $31.93, for a total value of $1,395,021.70. Following the transaction, the insider now owns 24,755,242 shares in the company, valued at $790,434,877.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 43,690 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $31.93, for a total value of $1,395,021.70. Following the completion of the sale, the insider now owns 24,755,242 shares of the company’s stock, valued at $790,434,877.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Troutman sold 897 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.70, for a total transaction of $27,537.90. Following the completion of the sale, the insider now directly owns 43,026 shares of the company’s stock, valued at approximately $1,320,898.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,924 shares of company stock worth $15,968,328. Company insiders own 3.00% 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.