Zurn Elkay Water Solutions (NYSE:ZWS) Issues Earnings Results, Beats Estimates By $0.03 EPS

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

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock traded up $0.26 on Wednesday, reaching $33.01. The company had a trading volume of 117,929 shares, compared to its average volume of 962,454. The stock has a market capitalization of $5.72 billion, a PE ratio of 49.66, a price-to-earnings-growth ratio of 1.78 and a beta of 1.22. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a one year low of $20.06 and a one year high of $34.58. The business’s 50-day moving average is $31.93 and its 200 day moving average is $29.96.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 annualized dividend and a yield of 0.97%. Zurn Elkay Water Solutions’s dividend payout ratio is 49.23%.

Analyst Ratings Changes

ZWS has been the topic of a number of recent analyst reports. Oppenheimer boosted 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 report on Friday, April 12th. Mizuho downgraded shares of 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 initiated 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 on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.75.

Insider Transactions at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 30,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $33.09, for a total transaction of $992,700.00. Following the sale, the director now owns 589,275 shares of the company’s stock, valued at $19,499,109.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $33.09, for a total value of $992,700.00. Following the completion of the sale, the director now directly owns 589,275 shares in the company, valued at $19,499,109.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ice Mountain Llc sold 43,690 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $31.93, for a total transaction of $1,395,021.70. Following the completion of the sale, the insider now owns 24,755,242 shares of the company’s stock, valued at $790,434,877.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,924 shares of company stock valued at $15,968,328. 3.00% of the stock is currently owned by insiders.

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.