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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 249,582 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $32.04, for a total value of $7,996,607.28. Following the transaction, the insider now directly 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 accessible through this link. Major shareholders that own at least 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 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 value 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 value 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 1.9 %

ZWS opened at $32.12 on Thursday. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. The firm has a market cap of $5.56 billion, a P/E ratio of 45.24, a PEG ratio of 1.82 and a beta of 1.22. Zurn Elkay Water Solutions Co. has a 52 week low of $20.06 and a 52 week high of $34.58. The business’s fifty day simple moving average is $31.94 and its 200 day simple moving average is $29.98.

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

Zurn Elkay Water Solutions Announces Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on ZWS shares. 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 report on Friday, April 12th. BNP Paribas started coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Mizuho lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.75.

Institutional Trading of Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Securities Inc. purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at about $34,000. Benjamin Edwards Inc. purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at about $42,000. IFP Advisors Inc grew its holdings 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 during the period. Kapitalo Investimentos Ltda purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at about $76,000. Finally, Assetmark Inc. lifted its stake in shares of 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 purchasing an additional 718 shares in the last quarter. Hedge funds and other institutional investors 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.