Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells $3,316,425.28 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 103,768 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $31.96, for a total transaction of $3,316,425.28. Following the sale, the insider now owns 24,798,932 shares in the company, valued at $792,573,866.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 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 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 Price Performance

Shares of ZWS opened at $31.69 on Friday. Zurn Elkay Water Solutions Co. has a twelve month low of $20.06 and a twelve month high of $34.58. The firm’s fifty day simple moving average is $31.90 and its 200-day simple moving average is $29.84. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 1.74 and a beta of 1.22. 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 (NYSE:ZWS) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.26 EPS for the quarter, topping 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 firm had revenue of $356.80 million for the quarter, compared to analyst estimates of $350.55 million. During the same period last year, the business earned $0.16 EPS. Zurn Elkay Water Solutions’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 annualized dividend and a yield of 1.01%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 49.23%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its stake in Zurn Elkay Water Solutions by 1.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 20,109 shares of the company’s stock worth $591,000 after acquiring an additional 359 shares in the last quarter. IFP Advisors Inc grew its position in Zurn Elkay Water Solutions by 50.0% during the 2nd quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock worth $40,000 after purchasing an additional 500 shares during the last quarter. Gabelli Funds LLC grew its position in Zurn Elkay Water Solutions by 1.5% during the 4th quarter. Gabelli Funds LLC now owns 33,600 shares of the company’s stock worth $711,000 after purchasing an additional 500 shares during the last quarter. FMR LLC grew its position in Zurn Elkay Water Solutions by 7.3% during the 3rd quarter. FMR LLC now owns 8,153 shares of the company’s stock worth $228,000 after purchasing an additional 558 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its position in Zurn Elkay Water Solutions by 3.5% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 19,623 shares of the company’s stock worth $419,000 after purchasing an additional 660 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ZWS shares. 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 target price on the stock. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Friday, February 9th. Finally, Oppenheimer increased their target price 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions has a consensus 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.