Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells 43,690 Shares of Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 43,690 shares of the stock in a transaction on 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 directly owns 24,755,242 shares in the company, valued at approximately $790,434,877.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 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 stock was 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 Up 2.1 %

ZWS traded up $0.66 during trading on Tuesday, reaching $32.75. 1,408,051 shares of the stock traded hands, compared to its average volume of 973,147. 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 stock has a market capitalization of $5.67 billion, a PE ratio of 50.39, a P/E/G ratio of 1.76 and a beta of 1.22. The stock’s 50-day moving average is $31.93 and its 200 day moving average is $29.96. Zurn Elkay Water Solutions Co. has a 12 month low of $20.06 and a 12 month high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.26 earnings per share for the quarter, beating 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 quarter in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, February 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 49.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ZWS shares. Oppenheimer raised their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report 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 report on Friday, February 9th. Finally, BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.75.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several institutional investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 145.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock worth $202,037,000 after acquiring an additional 4,268,785 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Zurn Elkay Water Solutions by 2,110.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock worth $67,968,000 after acquiring an additional 2,206,508 shares during the last quarter. Norges Bank acquired a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter worth about $39,532,000. Raymond James & Associates increased its stake in Zurn Elkay Water Solutions by 1,622.8% in the 4th quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock valued at $36,592,000 after buying an additional 1,171,985 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Zurn Elkay Water Solutions by 3,236.0% in the 4th quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock valued at $14,889,000 after buying an additional 491,093 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.