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

Zurn Elkay Water Solutions Co. (NYSE:ZWS - Get Free Report) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Thursday, February 20th will be given a dividend of 0.09 per share on Friday, March 7th. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 20th.

Zurn Elkay Water Solutions has increased its dividend by an average of 3.2% per year over the last three years. Zurn Elkay Water Solutions has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 1.0 %

Shares of Zurn Elkay Water Solutions stock traded up $0.39 on Tuesday, hitting $39.53. The company had a trading volume of 1,117,969 shares, compared to its average volume of 884,167. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 50.03, a P/E/G ratio of 1.83 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. Zurn Elkay Water Solutions has a 1 year low of $28.25 and a 1 year high of $41.15. The stock has a 50 day moving average of $38.55 and a 200-day moving average of $35.89.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. As a group, sell-side analysts forecast that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO David J. Pauli sold 4,070 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the transaction, the chief financial officer now owns 47,572 shares in the company, valued at $1,862,443.80. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the transaction, the chief executive officer now owns 2,242,867 shares of the company's stock, valued at $89,333,392.61. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,202 shares of company stock worth $5,061,558 over the last three months. 3.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer raised their price target on 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. Robert W. Baird raised their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a research report on Friday, January 24th. Finally, Mizuho boosted their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.67.

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.