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

Zurn Elkay Water Solutions (NYSE:ZWS) issued its quarterly earnings results on Tuesday. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03, Briefing.com reports. The business had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.87%. Zurn Elkay Water Solutions’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock opened at $32.12 on Thursday. Zurn Elkay Water Solutions has a 12-month low of $20.06 and a 12-month high of $34.58. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 45.24, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average of $31.94 and a 200-day moving average of $29.98.

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared 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 1.00%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.07%.

Wall Street Analyst Weigh In

ZWS has been the subject of a number of analyst reports. Oppenheimer lifted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Friday, February 9th. 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 target price for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions presently has a consensus rating of “Hold” and a consensus target price of $32.75.

Insider Activity

In other news, CFO Mark W. Peterson sold 70,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.88, for a total value of $2,301,600.00. Following the completion of the transaction, the chief financial officer now owns 302,299 shares of the company’s stock, valued at approximately $9,939,591.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mark W. Peterson sold 70,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.88, for a total value of $2,301,600.00. Following the sale, the chief financial officer now directly owns 302,299 shares of the company’s stock, valued at approximately $9,939,591.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ice Mountain Llc sold 50,172 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the completion of the sale, the insider now directly owns 24,998,760 shares in the company, valued at $804,460,096.80. The disclosure for this sale can be found here. Insiders sold 741,506 shares of company stock valued at $23,964,936 in the last quarter. Company 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.