Ice Mountain Llc Sells 1,223 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 1,223 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $32.20, for a total value of $39,380.60. Following the sale, the insider now owns 24,947,709 shares in the company, valued at approximately $803,316,229.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 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 8th, Ice Mountain Llc sold 49,828 shares of Zurn Elkay Water Solutions stock. The shares were 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 shares were sold at an average price of $32.18, for a total value of $1,614,534.96.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $31.73 on Wednesday. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 48.81, a PEG ratio of 1.78 and a beta of 1.22. Zurn Elkay Water Solutions Co. has a twelve month low of $20.06 and a twelve month high of $34.58. The company has a current ratio of 3.02, a quick ratio of 1.77 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $31.98 and a 200 day moving average of $29.79.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Monday, February 5th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $356.80 million during the quarter, compared to analysts’ expectations of $350.55 million. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. Zurn Elkay Water Solutions’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. Sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. Zurn Elkay Water Solutions’s payout ratio is 49.23%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Large investors have recently bought and sold shares of the business. Thrive Wealth Management LLC acquired a new position in shares of Zurn Elkay Water Solutions during the first quarter valued at approximately $231,000. Perpetual Ltd raised its holdings in shares of Zurn Elkay Water Solutions by 9.5% during the first quarter. Perpetual Ltd now owns 168,916 shares of the company’s stock valued at $5,654,000 after acquiring an additional 14,701 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Zurn Elkay Water Solutions during the first quarter valued at approximately $1,004,000. Kapitalo Investimentos Ltda acquired a new position in shares of Zurn Elkay Water Solutions during the fourth quarter valued at approximately $76,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Zurn Elkay Water Solutions during the fourth quarter valued at approximately $5,213,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ZWS. BNP Paribas began coverage on Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 target price on the stock. Mizuho downgraded 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 note on Friday, February 9th. Stifel Nicolaus downgraded Zurn Elkay Water Solutions from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research note on Tuesday, December 19th. Finally, Oppenheimer upped their target price on 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.