Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells $7,996,607.28 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 249,582 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the sale, the insider now owns 24,505,660 shares of the company’s stock, valued at approximately $785,161,346.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares 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 transaction 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 transaction 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 Performance

Shares of NYSE ZWS opened at $31.69 on Friday. 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 Co. has a 12 month low of $20.06 and a 12 month high of $34.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.77. The company has a 50-day simple moving average of $31.95 and a 200-day simple moving average of $30.03.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The business had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. During the same period last year, the company earned $0.18 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, equities 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 announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were given a $0.08 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Analyst Ratings Changes

ZWS has been the subject of several recent 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 target price for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a report on Thursday. Mizuho downgraded 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 report on Friday, February 9th. Finally, Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.50.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Hedge funds have recently modified their holdings of the stock. Principal Securities Inc. acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth approximately $34,000. Benjamin Edwards Inc. acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth approximately $42,000. IFP Advisors Inc boosted its position 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. Kapitalo Investimentos Ltda acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth approximately $76,000. Finally, Assetmark Inc. boosted its position in shares of Zurn Elkay Water Solutions by 32.9% in the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock worth $85,000 after acquiring an additional 718 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

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.