Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells $1,395,021.70 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 43,690 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $31.93, for a total value of $1,395,021.70. Following the completion of the transaction, the insider now directly owns 24,755,242 shares in the company, valued at $790,434,877.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ice Mountain Llc also recently made the following trade(s):

• On Monday, April 22nd, Ice Mountain Llc sold 249,582 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $32.04, for a total transaction of $7,996,607.28.
• On Monday, April 15th, Ice Mountain Llc sold 103,768 shares of Zurn Elkay Water Solutions stock. The shares were sold at an average price of $31.96, for a total transaction of $3,316,425.28.
• On Thursday, April 11th, Ice Mountain Llc sold 1,223 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $32.20, for a total transaction of $39,380.60.
• On Monday, April 8th, Ice Mountain Llc sold 49,828 shares of Zurn Elkay Water Solutions stock. The shares were sold at an average price of $32.07, for a total transaction of $1,597,983.96.
• On Friday, April 5th, Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $32.18, for a total value of $1,614,534.96.

Zurn Elkay Water Solutions Trading Down 0.7 %

NYSE ZWS opened at $31.88 on Friday. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 52 week low of $20.06 and a 52 week high of $34.58. The business has a 50 day moving average price of $31.93 and a 200-day moving average price of $29.99. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 44.90, a P/E/G ratio of 1.82 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.87%. The business had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. During the same quarter in the previous year, the business posted $0.18 EPS. Zurn Elkay Water Solutions’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Analyst Ratings Changes

ZWS has been the topic of several research analyst reports. Oppenheimer upped their target price on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Mizuho downgraded shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday. Finally, BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of “Hold” and an average target price of $33.50.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Zurn Elkay Water Solutions by 1.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 20,109 shares of the company’s stock worth $591,000 after purchasing an additional 359 shares during the last quarter. Assetmark Inc. raised its position in Zurn Elkay Water Solutions by 32.9% in the 4th quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock valued at $85,000 after buying an additional 718 shares during the last quarter. Fiera Capital Corp lifted its stake in Zurn Elkay Water Solutions by 0.7% during the 3rd quarter. Fiera Capital Corp now owns 119,908 shares of the company’s stock valued at $3,360,000 after acquiring an additional 781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Zurn Elkay Water Solutions by 1.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,339 shares of the company’s stock worth $2,223,000 after acquiring an additional 982 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Zurn Elkay Water Solutions by 16.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 83.33% 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.