Zurn Elkay Water Solutions Co. (ZWS) To Go Ex-Dividend on November 20th

Zurn Elkay Water Solutions Co. (NYSE:ZWS) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Investors of record on Wednesday, November 20th will be given a dividend of 0.09 per share on Friday, December 6th. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, November 20th.

Zurn Elkay Water Solutions has decreased its dividend by an average of 3.2% per year over the last three years. Zurn Elkay Water Solutions has a dividend payout ratio of 24.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Zurn Elkay Water Solutions to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 24.1%.

Zurn Elkay Water Solutions Trading Up 0.5 %

Shares of ZWS opened at $36.30 on Friday. The stock’s 50-day moving average price is $34.00 and its 200 day moving average price is $32.11. The company has a quick ratio of 1.75, a current ratio of 2.84 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions has a 12-month low of $25.09 and a 12-month high of $38.11. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 46.54, a P/E/G ratio of 1.96 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The business had revenue of $412.00 million during the quarter, compared to analyst estimates of $409.14 million. During the same period in the prior year, the company posted $0.24 earnings per share. Zurn Elkay Water Solutions’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts predict that Zurn Elkay Water Solutions will post 1.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ZWS. Oppenheimer lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.40.

Insiders Place Their Bets

In other news, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total value of $134,878.86. Following the completion of the transaction, the director now owns 389,399 shares in the company, valued at approximately $12,854,060.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the transaction, the director now owns 385,017 shares in the company, valued at $12,717,111.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy J. Jahnke sold 4,086 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the sale, the director now owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,572 shares of company stock valued at $3,473,472. 3.80% of the stock is currently owned by insiders.

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.