Ice Mountain Llc Sells 249,582 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 249,582 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the sale, the insider now owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, April 19th, Ice Mountain Llc sold 43,690 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $31.93, for a total value of $1,395,021.70.
• On Monday, April 15th, Ice Mountain Llc sold 103,768 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $31.96, for a total value 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 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 stock was sold at an average price of $32.18, for a total transaction of $1,614,534.96.

Zurn Elkay Water Solutions Stock Down 1.9 %

Shares of ZWS stock traded down $0.63 on Wednesday, reaching $32.12. 1,756,206 shares of the company were exchanged, compared to its average volume of 983,060. Zurn Elkay Water Solutions Co. has a one year low of $20.06 and a one year high of $34.58. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 49.66, a PEG ratio of 1.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. The company has a 50-day moving average of $31.93 and a 200-day moving average of $29.96.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, February 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. Zurn Elkay Water Solutions’s payout ratio is currently 49.23%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Large investors have recently modified their holdings of the stock. Principal Securities Inc. purchased a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $34,000. Benjamin Edwards Inc. purchased a new position in Zurn Elkay Water Solutions in the 4th quarter valued at approximately $42,000. IFP Advisors Inc grew its stake in Zurn Elkay Water Solutions by 70.9% in the 3rd quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock valued at $72,000 after buying an additional 1,064 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Zurn Elkay Water Solutions in the 4th quarter valued at approximately $76,000. Finally, Assetmark Inc. grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZWS. Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a report on Friday, February 9th. Oppenheimer increased their price target on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, BNP Paribas began coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.75.

Zurn Elkay Water Solutions 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.