Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells $39,380.60 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 1,223 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $32.20, for a total value of $39,380.60. Following the completion of the sale, the insider now directly owns 24,947,709 shares in the company, valued at approximately $803,316,229.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more 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 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 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 1.5 %

Shares of ZWS stock opened at $31.25 on Thursday. Zurn Elkay Water Solutions Co. has a 1 year low of $20.06 and a 1 year high of $34.58. The stock has a market cap of $5.41 billion, a PE ratio of 48.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.22. The business’s fifty day moving average is $31.94 and its 200-day moving average is $29.80. 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 issued its quarterly earnings results on Monday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The company had revenue of $356.80 million for the quarter, compared to analysts’ expectations of $350.55 million. During the same period last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts expect 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. Stockholders of record on Tuesday, February 20th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 49.23%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Mizuho cut Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Friday, February 9th. Oppenheimer raised their target price 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. Finally, BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.75.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several hedge funds have recently modified their holdings of ZWS. Rockefeller Capital Management L.P. increased its position in shares of Zurn Elkay Water Solutions by 1,087.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,354 shares of the company’s stock valued at $28,000 after purchasing an additional 1,240 shares during the period. Principal Securities Inc. acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter worth $34,000. IFP Advisors Inc grew its holdings in shares of Zurn Elkay Water Solutions by 50.0% in the 2nd quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock worth $40,000 after acquiring an additional 500 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter worth $42,000. Finally, KBC Group NV acquired a new position in shares of Zurn Elkay Water Solutions in the 4th quarter worth $63,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Company Profile

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.