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

Zurn Elkay Water Solutions (NYSE:ZWS) released its quarterly earnings data on Tuesday. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03, Briefing.com reports. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The company had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. During the same quarter last year, the business posted $0.18 EPS. Zurn Elkay Water Solutions’s revenue for the quarter was up .5% on a year-over-year basis.

Zurn Elkay Water Solutions Stock Down 1.4 %

Shares of ZWS traded down $0.45 during trading hours on Wednesday, hitting $32.30. The stock had a trading volume of 408,846 shares, compared to its average volume of 965,116. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. The firm has a 50 day simple moving average of $31.93 and a 200-day simple moving average of $29.96. The firm has a market capitalization of $5.59 billion, a P/E ratio of 49.66, a price-to-earnings-growth ratio of 1.78 and a beta of 1.22. Zurn Elkay Water Solutions has a 1-year low of $20.06 and a 1-year high of $34.58.

Zurn Elkay Water Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Oppenheimer raised their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Friday, February 9th. Finally, BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.75.

Insider Activity

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 129,604 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the completion of the transaction, the chief executive officer now owns 1,828,550 shares in the company, valued at approximately $60,451,863. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mark W. Peterson sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.88, for a total value of $2,301,600.00. Following the transaction, the chief financial officer now owns 302,299 shares in the company, valued at approximately $9,939,591.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd A. Adams sold 129,604 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $33.06, for a total value of $4,284,708.24. Following the completion of the transaction, the chief executive officer now owns 1,828,550 shares in the company, valued at approximately $60,451,863. The disclosure for this sale can be found here. Insiders sold a total of 491,924 shares of company stock worth $15,968,328 in the last three months. Company insiders own 3.00% of the company’s stock.

Zurn Elkay Water Solutions Company Profile

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.