Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells $3,316,425.28 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 103,768 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $31.96, for a total transaction of $3,316,425.28. Following the completion of the sale, the insider now directly owns 24,798,932 shares in the company, valued at $792,573,866.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 stock was 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 shares were sold at an average price of $32.18, for a total value of $1,614,534.96.

Zurn Elkay Water Solutions Stock Down 1.5 %

Zurn Elkay Water Solutions stock traded down $0.47 during trading hours on Wednesday, hitting $31.25. The company had a trading volume of 823,524 shares, compared to its average volume of 957,679. The firm’s fifty day moving average is $31.98 and its 200-day moving average is $29.79. The firm has a market capitalization of $5.41 billion, a P/E ratio of 48.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.22. Zurn Elkay Water Solutions Co. has a fifty-two week low of $20.06 and a fifty-two week high of $34.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $356.80 million during the quarter, compared to analyst estimates of $350.55 million. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. Zurn Elkay Water Solutions’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. On average, research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current year.

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 given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio is 49.23%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. lifted its stake in shares of Zurn Elkay Water Solutions by 1,087.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,354 shares of the company’s stock valued at $28,000 after buying an additional 1,240 shares during the period. Principal Securities Inc. bought a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter worth approximately $34,000. IFP Advisors Inc increased its position in shares of Zurn Elkay Water Solutions by 50.0% during the second quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock valued at $40,000 after purchasing an additional 500 shares during the period. Benjamin Edwards Inc. acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter worth approximately $42,000. Finally, KBC Group NV acquired a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $63,000. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on ZWS shares. Stifel Nicolaus cut Zurn Elkay Water Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Tuesday, December 19th. BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Friday, February 9th. Finally, Oppenheimer boosted their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.75.

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.