Zurn Elkay Water Solutions (NYSE:ZWS) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Zurn Elkay Water Solutions (NYSE:ZWS) released its quarterly earnings data on Tuesday. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04, Zacks reports. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%.

Zurn Elkay Water Solutions Trading Up 1.0 %

ZWS traded up $0.39 during trading on Tuesday, reaching $39.53. 1,117,969 shares of the company’s stock were exchanged, compared to its average volume of 884,166. The firm has a fifty day moving average price of $38.55 and a two-hundred day moving average price of $35.89. The stock has a market capitalization of $6.71 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 1.83 and a beta of 1.15. Zurn Elkay Water Solutions has a one year low of $28.25 and a one year high of $41.15. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, February 20th. Zurn Elkay Water Solutions’s payout ratio is 45.57%.

Insider Activity

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 4,070 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the transaction, the chief financial officer now directly owns 47,572 shares in the company, valued at approximately $1,862,443.80. This trade represents a 7.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the completion of the sale, the vice president now owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. This trade represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,202 shares of company stock valued at $5,061,558. Company insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ZWS shares. Mizuho raised their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, January 24th. Robert W. Baird increased their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Zurn Elkay Water Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $38.67.

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.