Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Ice Mountain Llc Sells 43,690 Shares of Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 43,690 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $31.93, for a total transaction of $1,395,021.70. Following the completion of the sale, the insider now owns 24,755,242 shares in the company, valued at $790,434,877.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 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 Stock Performance

ZWS opened at $32.75 on Wednesday. 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 current ratio of 3.02, a quick ratio of 1.77 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $5.67 billion, a PE ratio of 50.39, a P/E/G ratio of 1.76 and a beta of 1.22. The firm has a 50 day moving average of $31.93 and a two-hundred day moving average of $29.96.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $356.80 million during the quarter, compared to analyst estimates of $350.55 million. During the same period last year, the firm posted $0.16 EPS. Zurn Elkay Water Solutions’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.98%. Zurn Elkay Water Solutions’s payout ratio is 49.23%.

Wall Street Analyst Weigh In

ZWS has been the subject of several research analyst reports. BNP Paribas initiated 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 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 company an “outperform” rating in a research report on Friday, April 12th. Finally, Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Five research 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, Zurn Elkay Water Solutions currently has an average rating of “Hold” and an average target price of $32.75.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $34,000. Benjamin Edwards Inc. acquired a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $42,000. IFP Advisors Inc grew its stake in shares of Zurn Elkay Water Solutions by 70.9% during the 3rd quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock worth $72,000 after purchasing an additional 1,064 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $76,000. Finally, Assetmark Inc. grew its stake in shares of Zurn Elkay Water Solutions by 32.9% during the 4th quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock worth $85,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds 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.