Ice Mountain Llc Sells 48,388 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 48,388 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $32.97, for a total transaction of $1,595,352.36. Following the transaction, the insider now owns 24,220,544 shares in the company, valued at approximately $798,551,335.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 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 Monday, April 22nd, Ice Mountain Llc sold 249,582 shares of Zurn Elkay Water Solutions stock. The stock was sold at an average price of $32.04, for a total transaction of $7,996,607.28.
• 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 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 shares were sold at an average price of $32.18, for a total transaction of $1,614,534.96.

Zurn Elkay Water Solutions Stock Performance

ZWS opened at $31.95 on Friday. Zurn Elkay Water Solutions Co. has a 52-week low of $21.84 and a 52-week high of $34.58. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.52 billion, a P/E ratio of 45.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21. The firm’s 50-day moving average price is $32.20 and its 200-day moving average price is $30.80.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, May 20th will be given a $0.08 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.32 annualized dividend and a yield of 1.00%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Analyst Ratings Changes

A number of research analysts have weighed in on ZWS shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Oppenheimer upped 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 research note on Friday, April 12th. 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 research note on Friday, February 9th. Finally, BNP Paribas began 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 price objective for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions presently has an average rating of “Hold” and a consensus target price of $33.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new position in Zurn Elkay Water Solutions in the 4th quarter valued at $1,511,000. LVW Advisors LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter worth $569,000. Strs Ohio increased its stake in shares of Zurn Elkay Water Solutions by 235.5% in the 4th quarter. Strs Ohio now owns 46,300 shares of the company’s stock worth $1,361,000 after acquiring an additional 32,500 shares during the last quarter. Huntington National Bank increased its stake in shares of Zurn Elkay Water Solutions by 29.5% in the 3rd quarter. Huntington National Bank now owns 537,376 shares of the company’s stock worth $15,057,000 after acquiring an additional 122,281 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of 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 worth $36,592,000 after purchasing an additional 1,171,985 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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.