Zurn Elkay Water Solutions Co. (NYSE:ZWS) Plans Quarterly Dividend of $0.09

Zurn Elkay Water Solutions Co. (NYSE:ZWS) declared a quarterly dividend on Wednesday, October 23rd,NASDAQ Dividends reports. Stockholders of record on Wednesday, November 20th will be given a dividend of 0.09 per share on Friday, December 6th. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08.

Zurn Elkay Water Solutions has decreased its dividend payment by an average of 3.2% per year over the last three years. Zurn Elkay Water Solutions has a payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Zurn Elkay Water Solutions to earn $1.35 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 26.7%.

Zurn Elkay Water Solutions Trading Up 0.0 %

NYSE:ZWS opened at $38.91 on Monday. Zurn Elkay Water Solutions has a fifty-two week low of $27.55 and a fifty-two week high of $40.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The stock has a market capitalization of $6.60 billion, a PE ratio of 49.25, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. The business’s 50-day simple moving average is $36.16 and its 200-day simple moving average is $32.83.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. Sell-side analysts expect that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the sale, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. This represents a 5.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 4,070 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,688 shares of company stock valued at $8,400,151 in the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ZWS has been the topic of several research reports. Mizuho boosted their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer boosted their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of “Hold” and an average target price of $38.17.

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.