Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells 249,582 Shares of Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 249,582 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the transaction, the insider now owns 24,505,660 shares of the company’s stock, valued at approximately $785,161,346.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% 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 Friday, April 19th, Ice Mountain Llc sold 43,690 shares of Zurn Elkay Water Solutions stock. The shares were sold at an average price of $31.93, for a total transaction of $1,395,021.70.
• 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 shares were 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 shares were sold at an average price of $32.18, for a total transaction of $1,614,534.96.

Zurn Elkay Water Solutions Trading Down 0.6 %

Shares of ZWS stock opened at $31.69 on Friday. Zurn Elkay Water Solutions Co. has a 12 month low of $20.06 and a 12 month high of $34.58. The company has a quick ratio of 1.77, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $31.95 and its two-hundred day moving average is $30.03. The company has a market cap of $5.47 billion, a PE ratio of 44.63, a price-to-earnings-growth ratio of 1.79 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 the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The company had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. During the same quarter last year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.15 EPS 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. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, February 16th. This represents a $0.32 annualized dividend and a yield of 1.01%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

Wall Street Analyst Weigh In

A number of analysts have commented on ZWS shares. Deutsche Bank Aktiengesellschaft reduced 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. Oppenheimer increased 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. BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $33.50.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its stake in shares of Zurn Elkay Water Solutions by 70.9% in the third quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock worth $72,000 after acquiring an additional 1,064 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Zurn Elkay Water Solutions by 368.9% in the third quarter. SG Americas Securities LLC now owns 35,475 shares of the company’s stock worth $994,000 after acquiring an additional 27,910 shares during the last quarter. Cannon Global Investment Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the third quarter worth $280,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Zurn Elkay Water Solutions by 1.3% in the third 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, Strs Ohio grew its stake in shares of Zurn Elkay Water Solutions by 19.0% in the third quarter. Strs Ohio now owns 13,800 shares of the company’s stock worth $386,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.