Zurn Elkay Water Solutions (NYSE:ZWS) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Zurn Elkay Water Solutions (NYSE:ZWS) released its earnings results on Tuesday. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02, Briefing.com reports. The company had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS.

Zurn Elkay Water Solutions Stock Up 1.8 %

Shares of ZWS stock traded up $0.64 during mid-day trading on Thursday, hitting $36.54. The company’s stock had a trading volume of 218,385 shares, compared to its average volume of 1,115,350. Zurn Elkay Water Solutions has a 52-week low of $25.54 and a 52-week high of $38.11. The business has a 50-day moving average price of $34.48 and a 200 day moving average price of $32.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.75 and a current ratio of 2.84. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 46.15, a PEG ratio of 1.94 and a beta of 1.14.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s payout ratio is currently 45.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ZWS shares. Deutsche Bank Aktiengesellschaft raised their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Mizuho lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday. Robert W. Baird lifted their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Oppenheimer lifted their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average target price of $38.17.

Insider Transactions at Zurn Elkay Water Solutions

In related news, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the sale, the director now owns 345,017 shares of the company’s stock, valued at $12,969,189.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the sale, the director now owns 345,017 shares of the company’s stock, valued at $12,969,189.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total value of $351,225.00. Following the completion of the sale, the director now directly owns 374,982 shares of the company’s stock, valued at $13,124,370. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,486 shares of company stock worth $3,338,593 over the last quarter. 3.80% of the stock is currently owned by 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.