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

Zurn Elkay Water Solutions (NYSE:ZWS) announced its quarterly earnings data on Tuesday. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03, Briefing.com reports. The business had revenue of $374.00 million during 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 quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock traded up $0.26 during mid-day trading on Wednesday, reaching $33.01. The company had a trading volume of 117,929 shares, compared to its average volume of 962,454. Zurn Elkay Water Solutions has a 1 year low of $20.06 and a 1 year high of $34.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. The company has a market capitalization of $5.72 billion, a P/E ratio of 49.66, a P/E/G ratio of 1.78 and a beta of 1.22. The stock’s 50-day simple moving average is $31.93 and its 200-day simple moving average is $29.96.

Zurn Elkay Water Solutions Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on ZWS shares. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Friday, February 9th. Oppenheimer boosted their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They set 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. According to data from MarketBeat, Zurn Elkay Water Solutions has an average rating of “Hold” and a consensus target price of $32.75.

Insider Transactions at Zurn Elkay Water Solutions

In related news, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the sale, the chief executive officer now owns 1,828,550 shares in the company, valued at $60,451,863. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Ice Mountain Llc sold 103,768 shares of Zurn Elkay Water Solutions stock in a transaction on Monday, April 15th. The shares were sold at an average price of $31.96, for a total transaction of $3,316,425.28. Following the transaction, the insider now owns 24,798,932 shares in the company, valued at approximately $792,573,866.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd A. Adams sold 129,604 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the sale, the chief executive officer now directly owns 1,828,550 shares in the company, valued at approximately $60,451,863. The disclosure for this sale can be found here. Insiders sold a total of 491,924 shares of company stock valued at $15,968,328 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Zurn Elkay Water Solutions Company Profile

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.