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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) declared a quarterly dividend on Friday, July 26th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, August 20th.

Zurn Elkay Water Solutions has decreased its dividend by an average of 3.2% per year over the last three years. Zurn Elkay Water Solutions has a dividend payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE ZWS traded up $0.84 during mid-day trading on Friday, reaching $32.40. The company’s stock had a trading volume of 864,163 shares, compared to its average volume of 952,707. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. The stock has a 50-day moving average of $30.61 and a two-hundred day moving average of $31.10. Zurn Elkay Water Solutions has a 1-year low of $25.09 and a 1-year high of $34.58. The stock has a market capitalization of $5.60 billion, a P/E ratio of 45.77, a P/E/G ratio of 1.69 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $374.00 million during the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. On average, equities research analysts anticipate that Zurn Elkay Water Solutions will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, Director Thomas Christopoul sold 10,495 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $32.11, for a total transaction of $336,994.45. Following the completion of the transaction, the director now directly owns 104,844 shares in the company, valued at $3,366,540.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Thomas Christopoul sold 10,495 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $32.11, for a total transaction of $336,994.45. Following the sale, the director now owns 104,844 shares of the company’s stock, valued at $3,366,540.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Aimee Katz sold 8,240 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Monday, July 1st. The shares were 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 of the company’s stock, valued at approximately $686,711,025.36. 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 over the last quarter. 3.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

ZWS has been the topic of several analyst reports. Oppenheimer lifted their price target 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. Finally, Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.00.

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.