Zurn Elkay Water Solutions Cor (NYSE:ZWS) to Issue $0.11 Quarterly Dividend

Zurn Elkay Water Solutions Cor (NYSE:ZWS) announced a quarterly dividend on Thursday, April 30th. Stockholders of record on Wednesday, May 20th will be paid a dividend of 0.11 per share on Friday, June 5th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, May 20th.

Zurn Elkay Water Solutions Cor has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 3 years. Zurn Elkay Water Solutions Cor has a dividend payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Zurn Elkay Water Solutions Cor to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 23.2%.

Zurn Elkay Water Solutions Cor Trading Down 0.1%

ZWS opened at $51.93 on Friday. Zurn Elkay Water Solutions Cor has a 12 month low of $33.88 and a 12 month high of $53.76. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $47.85 and a 200 day moving average of $47.61. The firm has a market cap of $8.67 billion, a P/E ratio of 41.99, a P/E/G ratio of 2.01 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The firm had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $418.99 million. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total value of $1,279,500.00. Following the completion of the transaction, the director owned 266,864 shares of the company’s stock, valued at approximately $13,658,099.52. This trade represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Sudhanshu Chhabra sold 2,021 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $50.85, for a total transaction of $102,767.85. Following the sale, the vice president directly owned 69,556 shares in the company, valued at $3,536,922.60. This trade represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 599,259 shares of company stock worth $31,225,361 in the last three months. 2.40% of the stock is owned by company insiders.

Institutional Trading of Zurn Elkay Water Solutions Cor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB purchased a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth about $7,356,000. JPMorgan Chase & Co. lifted its holdings in Zurn Elkay Water Solutions Cor by 8.4% in the third quarter. JPMorgan Chase & Co. now owns 1,457,689 shares of the company’s stock valued at $68,555,000 after acquiring an additional 113,425 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 27.9% in the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after acquiring an additional 223,168 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new position in Zurn Elkay Water Solutions Cor in the fourth quarter worth approximately $1,205,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Zurn Elkay Water Solutions Cor by 73.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,827 shares of the company’s stock worth $6,129,000 after acquiring an additional 55,490 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.