Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Ice Mountain Llc Sells 103,768 Shares

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 103,768 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were 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 of the company’s stock, valued at $792,573,866.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 shares were 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 value of $1,614,534.96.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $31.25 on Thursday. The company 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. 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 quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $31.94 and its 200-day moving average price is $29.80.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data 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. The business had revenue of $356.80 million during the quarter, compared to analyst estimates of $350.55 million. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company earned $0.16 EPS. On average, equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 49.23%.

Analyst Ratings Changes

Several analysts recently issued reports on ZWS shares. BNP Paribas initiated coverage on Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price on the stock. Mizuho cut shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Friday, February 9th. Finally, Oppenheimer upped 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 research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, 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

A number of large investors have recently made changes to their positions in ZWS. Moneta Group Investment Advisors LLC lifted its stake in Zurn Elkay Water Solutions by 111,056.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,777,778 shares of the company’s stock worth $460,600,000 after purchasing an additional 21,758,186 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Zurn Elkay Water Solutions by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock valued at $404,041,000 after acquiring an additional 131,683 shares during the period. BlackRock Inc. grew its position in Zurn Elkay Water Solutions by 33.7% in the 2nd quarter. BlackRock Inc. now owns 11,869,166 shares of the company’s stock valued at $319,162,000 after acquiring an additional 2,994,006 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Zurn Elkay Water Solutions by 5.0% during the first quarter. Bank of America Corp DE now owns 7,857,541 shares of the company’s stock worth $167,837,000 after purchasing an additional 374,409 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Zurn Elkay Water Solutions by 145.1% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock valued at $202,037,000 after purchasing an additional 4,268,785 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

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.