Zurn Elkay Water Solutions (NYSE:ZWS) Announces Earnings Results

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

Zurn Elkay Water Solutions Trading Down 1.4 %

NYSE ZWS traded down $0.45 on Wednesday, hitting $32.30. 408,846 shares of the stock were exchanged, compared to its average volume of 965,116. Zurn Elkay Water Solutions has a 52-week low of $20.06 and a 52-week high of $34.58. The firm has a market capitalization of $5.59 billion, a P/E ratio of 49.66, a P/E/G ratio of 1.78 and a beta of 1.22. The stock has a fifty day moving average price of $31.93 and a two-hundred day moving average price of $29.96. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 49.23%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 43,690 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, April 19th. The stock was 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 directly owns 24,755,242 shares in the company, valued at $790,434,877.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 43,690 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 24,755,242 shares in the company, valued at $790,434,877.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Troutman sold 897 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.70, for a total transaction of $27,537.90. Following the completion of the transaction, the insider now owns 43,026 shares of the company’s stock, valued at $1,320,898.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,924 shares of company stock worth $15,968,328. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective for the company. Mizuho downgraded 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 report on Friday, February 9th. Finally, Oppenheimer raised 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 report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.75.

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.