Zurn Elkay Water Solutions Co. (NYSE:ZWS) Declares Quarterly Dividend of $0.08

Zurn Elkay Water Solutions Co. (NYSE:ZWS) declared a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Monday, May 20th will be given a dividend of 0.08 per share on Friday, June 7th. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, May 17th.

Zurn Elkay Water Solutions has decreased its dividend by an average of 3.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Zurn Elkay Water Solutions has a dividend payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Zurn Elkay Water Solutions to earn $1.31 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 24.4%.

Zurn Elkay Water Solutions Price Performance

ZWS traded up $0.01 during trading on Friday, reaching $31.64. The company’s stock had a trading volume of 615,724 shares, compared to its average volume of 982,571. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 44.56, a PEG ratio of 1.63 and a beta of 1.21. The firm has a fifty day simple moving average of $31.97 and a two-hundred day simple moving average of $30.16. Zurn Elkay Water Solutions has a 1 year low of $20.70 and a 1 year high of $34.58. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts anticipate that Zurn Elkay Water Solutions will post 1.18 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Ice Mountain Llc sold 249,582 shares of Zurn Elkay Water Solutions stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the sale, the insider now directly owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.09, for a total transaction of $992,700.00. Following the transaction, the director now owns 589,275 shares of the company’s stock, valued at $19,499,109.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ice Mountain Llc sold 249,582 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the sale, the insider now directly owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The disclosure for this sale can be found here. Insiders have sold 741,506 shares of company stock worth $23,964,936 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock 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 price target on the stock. in a research report on Friday, February 9th. BNP Paribas began coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.50.

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.