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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) declared a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Stockholders of record on Tuesday, August 20th will be paid a dividend of 0.08 per share on Friday, September 6th. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Tuesday, August 20th.

Zurn Elkay Water Solutions has decreased its dividend payment by an average of 3.2% per year over the last three years. Zurn Elkay Water Solutions has a payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 2.7 %

Shares of ZWS opened at $32.40 on Friday. The company has a market capitalization of $5.60 billion, a P/E ratio of 45.63, a PEG ratio of 1.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.95. Zurn Elkay Water Solutions has a one year low of $25.09 and a one year high of $34.58. The business’s 50 day simple moving average is $30.61 and its 200-day simple moving average is $31.13.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The business had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. During the same period in the previous year, the business earned $0.18 EPS. Zurn Elkay Water Solutions’s revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts predict that Zurn Elkay Water Solutions will post 1.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on ZWS shares. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Oppenheimer upped their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of “Hold” and a consensus target price of $35.00.

Insider Activity

In related news, major shareholder Aimee Katz sold 8,240 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $29.14, for a total value of $240,113.60. Following the completion of the sale, the insider now owns 23,565,924 shares in the company, valued at approximately $686,711,025.36. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,240 shares of the stock in a transaction dated 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 transaction, the insider now owns 23,565,924 shares in the company, valued at approximately $686,711,025.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ice Mountain Llc sold 48,388 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $32.97, for a total value of $1,595,352.36. Following the transaction, the insider now owns 24,220,544 shares of the company’s stock, valued at approximately $798,551,335.68. The disclosure for this sale can be found here. Insiders have sold a total of 251,442 shares of company stock valued at $7,716,844 in the last 90 days. 3.80% of the stock is owned by company insiders.

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.