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 Zurn Elkay Water Solutions stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the sale, the insider now directly owns 24,505,660 shares in the company, valued at approximately $785,161,346.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Large 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 shares were 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 stock was 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 stock traded down $0.63 during mid-day trading on Wednesday, hitting $32.12. The stock had a trading volume of 1,756,206 shares, compared to its average volume of 983,060. The company has a current ratio of 3.02, a quick ratio of 1.77 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1-year low of $20.06 and a 1-year high of $34.58. The company has a fifty day moving average of $31.93 and a 200 day moving average of $29.96. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 49.66, a PEG ratio of 1.78 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued 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 10.75% and a net margin of 7.36%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio is 49.23%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZWS. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 145.1% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock valued at $202,037,000 after acquiring an additional 4,268,785 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Zurn Elkay Water Solutions by 2,110.7% during the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after purchasing an additional 2,206,508 shares during the period. Norges Bank bought a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at approximately $39,532,000. Raymond James & Associates boosted its stake in Zurn Elkay Water Solutions by 1,622.8% during the 4th quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock valued at $36,592,000 after purchasing an additional 1,171,985 shares during the period. Finally, Stifel Financial Corp boosted its stake in Zurn Elkay Water Solutions by 3,236.0% during the 4th quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock valued at $14,889,000 after purchasing an additional 491,093 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ZWS has been the topic of a number of recent research reports. BNP Paribas assumed 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. Mizuho lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Friday, February 9th. Finally, Oppenheimer upped their price target on 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.