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

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 48,388 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $32.97, for a total value of $1,595,352.36. Following the completion of the transaction, the insider now owns 24,220,544 shares in the company, valued at $798,551,335.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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 transaction of $7,996,607.28.
• On Friday, April 19th, Ice Mountain Llc sold 43,690 shares of Zurn Elkay Water Solutions stock. The shares were sold at an average price of $31.93, for a total value 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 value 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 Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $31.74 on Friday. The firm has a fifty day moving average price of $32.19 and a two-hundred day moving average price of $30.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.95. Zurn Elkay Water Solutions Co. has a fifty-two week low of $21.78 and a fifty-two week high of $34.58. The company has a market cap of $5.48 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 1.68 and a beta of 1.21.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned $0.18 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. Analysts expect that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current 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 paid a dividend of $0.08 per share. The ex-dividend date is Friday, May 17th. This represents a $0.32 annualized dividend and a yield of 1.01%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Institutional Trading of Zurn Elkay Water Solutions

Large investors have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC grew 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 last quarter. Wells Fargo & Company MN raised its position in shares of Zurn Elkay Water Solutions by 2,110.7% during the fourth 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 position in shares of Zurn Elkay Water Solutions during the fourth quarter valued at $39,532,000. Raymond James & Associates boosted its holdings in Zurn Elkay Water Solutions by 1,622.8% in the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock valued at $36,592,000 after acquiring an additional 1,171,985 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Zurn Elkay Water Solutions by 68.6% in the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock worth $42,684,000 after purchasing an additional 518,733 shares during the period. 83.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ZWS. BNP Paribas assumed 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. 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 research note on Friday, April 12th. Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $33.50.

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.