Zurn Elkay Water Solutions Cor (NYSE:ZWS) to Issue $0.09 Quarterly Dividend

Key Points

• Zurn Elkay Water Solutions Cor declared a quarterly dividend of $0.09 per share, payable on September 5th to stockholders of record by August 20th, representing an annualized dividend of $0.36 and a yield of 0.94%.
• Analysts predict the company will earn $1.52 per share next year, allowing it to maintain a payout ratio comfortably at 23.7% for its annual dividend.
• Shares of ZWS rose by 1.7%, reaching $38.48, while institutional investors own approximately 83.33% of the company's stock, indicating strong institutional confidence.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) declared a quarterly dividend on Friday, July 25th, Wall Street Journal reports. Stockholders of record on Wednesday, August 20th will be paid a dividend of 0.09 per share on Friday, September 5th. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Wednesday, August 20th.

Zurn Elkay Water Solutions Cor has a payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Zurn Elkay Water Solutions Cor to earn $1.52 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 23.7%.

Zurn Elkay Water Solutions Cor Trading Up 1.7%

Shares of ZWS stock traded up $0.65 during trading hours on Friday, hitting $38.48. 817,864 shares of the company were exchanged, compared to its average volume of 949,117. The firm has a market cap of $6.47 billion, a PE ratio of 38.86, a PEG ratio of 2.31 and a beta of 0.99. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $41.15. The company has a quick ratio of 1.72, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $36.62 and a 200 day moving average of $35.36.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 10.72% and a return on equity of 14.43%. The company had revenue of $388.80 million during the quarter, compared to the consensus estimate of $383.87 million. During the same period in the previous year, the firm earned $0.29 earnings per share. Analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZWS. BNP Paribas lowered shares of Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a research report on Wednesday, April 9th. Robert W. Baird lowered their price objective on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions Cor from $39.00 to $43.00 and gave the company a "buy" rating in a research report on Monday. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Finally, The Goldman Sachs Group lowered their price objective on shares of Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.86.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, CFO David J. Pauli sold 2,706 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the completion of the sale, the chief financial officer owned 60,772 shares in the company, valued at $2,255,248.92. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sudhanshu Chhabra sold 25,921 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.19, for a total transaction of $964,001.99. Following the sale, the vice president owned 94,132 shares of the company's stock, valued at approximately $3,500,769.08. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several institutional investors have recently added to or reduced their stakes in ZWS. Empowered Funds LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor during the first quarter valued at $277,000. Woodline Partners LP acquired a new position in shares of Zurn Elkay Water Solutions Cor during the first quarter valued at $4,632,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 5.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company's stock valued at $16,127,000 after acquiring an additional 24,348 shares during the period. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor 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.

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