Ice Mountain Llc Sells 43,690 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 43,690 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $31.93, for a total value of $1,395,021.70. Following the completion of the transaction, the insider now owns 24,755,242 shares of the company’s stock, valued at $790,434,877.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major 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 Monday, April 22nd, Ice Mountain Llc sold 249,582 shares of Zurn Elkay Water Solutions stock. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28.
• 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 value 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 value 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 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 Trading Down 1.9 %

NYSE ZWS opened at $32.12 on Thursday. The business has a 50 day simple moving average of $31.94 and a 200 day simple moving average of $29.98. Zurn Elkay Water Solutions Co. has a one year low of $20.06 and a one year high of $34.58. The stock has a market capitalization of $5.56 billion, a P/E ratio of 49.42, a P/E/G ratio of 1.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The firm had revenue of $374.00 million during the quarter, compared to analysts’ expectations of $369.43 million. During the same quarter last year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Research analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were paid 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 1.00%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 49.23%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

A number of hedge funds have recently added to or reduced their stakes in the company. Simplicity Wealth LLC acquired a new stake in Zurn Elkay Water Solutions in the first quarter valued at approximately $703,000. Raymond James & Associates grew its stake in Zurn Elkay Water Solutions by 6.2% in the first quarter. Raymond James & Associates now owns 1,321,756 shares of the company’s stock valued at $44,239,000 after acquiring an additional 77,551 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Zurn Elkay Water Solutions by 0.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 685,528 shares of the company’s stock valued at $22,945,000 after acquiring an additional 3,189 shares during the period. AlphaMark Advisors LLC acquired a new stake in Zurn Elkay Water Solutions in the first quarter valued at approximately $347,000. Finally, Cannon Global Investment Management LLC acquired a new stake in Zurn Elkay Water Solutions in the first quarter valued at approximately $341,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analysts Set New Price Targets

ZWS has been the subject of several recent research reports. Oppenheimer increased their price target on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Mizuho cut Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Friday, February 9th. Finally, BNP Paribas began 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 for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.75.

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.