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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 43,690 shares of the business’s stock in a transaction that occurred on 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 directly owns 24,755,242 shares in the company, valued at approximately $790,434,877.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% 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 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 ZWS traded up $0.66 on Tuesday, reaching $32.75. The company’s stock had a trading volume of 1,408,051 shares, compared to its average volume of 973,147. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. Zurn Elkay Water Solutions Co. has a 12-month low of $20.06 and a 12-month high of $34.58. The stock has a market capitalization of $5.67 billion, a P/E ratio of 50.39, a PEG ratio of 1.76 and a beta of 1.22. The stock’s 50 day simple moving average is $31.93 and its two-hundred day simple moving average is $29.96.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.26 earnings per share 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 for the quarter, compared to the consensus estimate of $350.55 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company 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. This represents a $0.32 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 49.23%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in shares of Zurn Elkay Water Solutions by 6.2% in the first quarter. Raymond James & Associates now owns 1,321,756 shares of the company’s stock worth $44,239,000 after buying an additional 77,551 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 0.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 685,528 shares of the company’s stock worth $22,945,000 after buying an additional 3,189 shares in the last quarter. AlphaMark Advisors LLC purchased a new position in shares of Zurn Elkay Water Solutions in the first quarter worth $347,000. Cannon Global Investment Management LLC purchased a new position in shares of Zurn Elkay Water Solutions in the first quarter worth $341,000. Finally, Thrive Wealth Management LLC purchased a new position in shares of Zurn Elkay Water Solutions in the first quarter worth $231,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ZWS shares. 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 report on Friday, February 9th. Oppenheimer boosted 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 report on Friday, April 12th. Finally, BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.75.

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.