Zurn Elkay Water Solutions Co. (ZWS) to Issue Quarterly Dividend of $0.09 on March 7th

Zurn Elkay Water Solutions Co. (NYSE:ZWS) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders 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 yield of 1.02%. The ex-dividend date 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 dividend payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Zurn Elkay Water Solutions to earn $1.53 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 23.5%.

Zurn Elkay Water Solutions Trading Down 1.5 %

Zurn Elkay Water Solutions stock opened at $35.43 on Tuesday. The business has a 50 day moving average price of $37.95 and a two-hundred day moving average price of $36.28. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 38.51, a price-to-earnings-growth ratio of 1.78 and a beta of 1.15. Zurn Elkay Water Solutions has a 12 month low of $28.25 and a 12 month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.01% and a net margin of 10.23%. As a group, equities analysts forecast that Zurn Elkay Water Solutions will post 1.35 EPS for the current year.

Analyst Ratings Changes

ZWS has been the subject of a number of recent research reports. Robert W. Baird increased their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Oppenheimer increased their target price on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Mizuho increased their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.67.

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.