Ice Mountain Llc Sells 103,768 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 103,768 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 24,798,932 shares of the company’s stock, valued at $792,573,866.72. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $32.18, for a total transaction of $1,614,534.96.

Zurn Elkay Water Solutions Stock Performance

ZWS opened at $31.62 on Friday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 48.65, a PEG ratio of 1.76 and a beta of 1.22. The company has a fifty day moving average of $31.91 and a 200 day moving average of $29.81. 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 quick ratio of 1.77 and a current ratio of 3.02.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Monday, February 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The business had revenue of $356.80 million during the quarter, compared to analyst estimates of $350.55 million. During the same quarter last year, the business earned $0.16 earnings per share. Zurn Elkay Water Solutions’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.08 per share. The ex-dividend date of this dividend 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 currently 49.23%.

Analysts Set New Price Targets

ZWS has been the subject of a number of analyst reports. BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective for the company. Oppenheimer increased their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, Mizuho cut shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.75.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several institutional investors have recently bought and sold shares of ZWS. JPMorgan Chase & Co. lifted its position in Zurn Elkay Water Solutions by 3.1% during the first quarter. JPMorgan Chase & Co. now owns 166,538 shares of the company’s stock valued at $5,895,000 after purchasing an additional 5,067 shares during the last quarter. Raymond James & Associates lifted its position in Zurn Elkay Water Solutions by 56.7% during the first quarter. Raymond James & Associates now owns 56,374 shares of the company’s stock valued at $1,996,000 after purchasing an additional 20,393 shares during the last quarter. MetLife Investment Management LLC lifted its position in Zurn Elkay Water Solutions by 48.2% during the first quarter. MetLife Investment Management LLC now owns 63,174 shares of the company’s stock valued at $2,236,000 after purchasing an additional 20,555 shares during the last quarter. APG Asset Management N.V. bought a new stake in shares of Zurn Elkay Water Solutions in the 1st quarter worth about $1,094,000. Finally, Synovus Financial Corp lifted its holdings in shares of Zurn Elkay Water Solutions by 9.7% in the 1st quarter. Synovus Financial Corp now owns 26,225 shares of the company’s stock worth $934,000 after acquiring an additional 2,318 shares during the last quarter. Institutional investors 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.