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

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02, Zacks reports. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%.

Zurn Elkay Water Solutions Trading Up 4.6 %

Shares of ZWS traded up $1.38 during trading hours on Tuesday, reaching $31.07. 2,567,398 shares of the company traded hands, compared to its average volume of 1,122,105. Zurn Elkay Water Solutions has a 12-month low of $27.74 and a 12-month high of $41.15. The stock's fifty day moving average price is $32.88 and its 200 day moving average price is $36.32. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 2.01 and a beta of 1.08. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 39.13%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 8,390 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. The trade was a 12.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the transaction, the insider now directly owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BNP Paribas cut Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price target for the company. in a research note on Wednesday, April 9th. Stifel Nicolaus upgraded shares of Zurn Elkay Water Solutions from a "hold" rating to a "buy" rating and reduced their price target for the stock from $39.00 to $34.00 in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group lowered their price objective on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $35.71.

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.

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