Zurn Elkay Water Solutions Cor (NYSE:ZWS) Posts Earnings Results

Zurn Elkay Water Solutions Cor (NYSE:ZWS) announced its earnings results on Tuesday. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02, FiscalAI reports. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The firm had revenue of $495.10 million for the quarter, compared to analyst estimates of $493.36 million.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS traded down $0.12 during midday trading on Tuesday, hitting $49.20. The stock had a trading volume of 1,315,941 shares, compared to its average volume of 994,757. The company’s 50-day moving average price is $47.45 and its 200-day moving average price is $48.26. The company has a market capitalization of $8.16 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00.

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Friday, November 20th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.52 annualized dividend and a yield of 1.1%. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.11. Zurn Elkay Water Solutions Cor’s payout ratio is 27.16%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ZWS shares. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th. Royal Bank Of Canada lowered their price objective on Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 14th. Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, Director Jacques Butler purchased 2,016 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $49.60 per share, with a total value of $99,993.60. Following the acquisition, the director owned 37,487 shares in the company, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.