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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Monday, May 20th will be paid a dividend of 0.08 per share on Friday, June 7th. This represents a $0.32 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, May 17th.

Zurn Elkay Water Solutions has decreased its dividend payment 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. Research 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

Shares of ZWS opened at $31.64 on Friday. The business’s 50-day moving average is $31.97 and its two-hundred day moving average is $30.16. The company has a market capitalization of $5.46 billion, a P/E ratio of 44.56, a P/E/G ratio of 1.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. Zurn Elkay Water Solutions has a fifty-two week low of $20.70 and a fifty-two week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. Research analysts predict that Zurn Elkay Water Solutions will post 1.18 earnings per share for the current year.

Insider Transactions at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the completion of the sale, the insider now owns 24,998,760 shares in the company, valued at approximately $804,460,096.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the completion of the transaction, the insider now owns 24,998,760 shares of the company’s stock, valued at approximately $804,460,096.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were 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 directly owns 1,828,550 shares of the company’s stock, valued at approximately $60,451,863. The disclosure for this sale can be found here. Insiders sold 741,506 shares of company stock worth $23,964,936 in the last 90 days. Insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

ZWS has been the topic of a number of research reports. BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price target on the stock. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research note on Friday, February 9th. Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions has an average rating of “Hold” and a consensus target price 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.