Zurn Elkay Water Solutions (NYSE:ZWS) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.02, Briefing.com reports. The company had revenue of $410.00 million during the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS traded down $0.02 on Wednesday, reaching $35.90. 1,637,864 shares of the stock were exchanged, compared to its average volume of 1,120,207. The firm has a market capitalization of $6.14 billion, a PE ratio of 46.10, a PEG ratio of 1.94 and a beta of 1.14. Zurn Elkay Water Solutions has a one year low of $25.54 and a one year high of $38.11. The company's 50-day simple moving average is $34.39 and its two-hundred day simple moving average is $32.22. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.00%. This is an increase from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 45.57%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ZWS. Deutsche Bank Aktiengesellschaft upped their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Oppenheimer lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Three equities 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.com, Zurn Elkay Water Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $37.40.

Insider Transactions at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 10,035 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total value of $351,225.00. Following the completion of the sale, the director now owns 374,982 shares in the company, valued at approximately $13,124,370. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Timothy J. Jahnke sold 15,600 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the sale, the director now owns 385,017 shares in the company, valued at approximately $12,717,111.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy J. Jahnke sold 10,035 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the sale, the director now owns 374,982 shares in the company, valued at approximately $13,124,370. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,486 shares of company stock valued at $3,338,593 over the last three months. Corporate insiders own 3.80% of the company's stock.

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.