Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells 1,223 Shares of Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 1,223 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $32.20, for a total value of $39,380.60. Following the completion of the transaction, the insider now owns 24,947,709 shares of the company’s stock, valued at $803,316,229.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more 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 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 Price Performance

Shares of ZWS stock opened at $31.25 on Thursday. The stock’s fifty day moving average is $31.94 and its 200-day moving average is $29.80. The stock has a market capitalization of $5.41 billion, a PE ratio of 48.08, a PEG ratio of 1.76 and a beta of 1.22. Zurn Elkay Water Solutions Co. has a 52 week low of $20.06 and a 52 week high of $34.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.02.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results 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. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The business had revenue of $356.80 million for the quarter, compared to analysts’ expectations of $350.55 million. During the same quarter last year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZWS. Oppenheimer upped their price target on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. BNP Paribas began coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Mizuho cut Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $32.75.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its stake in Zurn Elkay Water Solutions by 1.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 20,109 shares of the company’s stock valued at $591,000 after buying an additional 359 shares during the period. IFP Advisors Inc raised its position in shares of Zurn Elkay Water Solutions by 50.0% during the second quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock worth $40,000 after purchasing an additional 500 shares during the period. Gabelli Funds LLC raised its position in shares of Zurn Elkay Water Solutions by 1.5% during the fourth quarter. Gabelli Funds LLC now owns 33,600 shares of the company’s stock worth $711,000 after purchasing an additional 500 shares during the period. FMR LLC raised its position in shares of Zurn Elkay Water Solutions by 7.3% during the third quarter. FMR LLC now owns 8,153 shares of the company’s stock worth $228,000 after purchasing an additional 558 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its position in shares of Zurn Elkay Water Solutions by 3.5% during the first quarter. Moneta Group Investment Advisors LLC now owns 19,623 shares of the company’s stock worth $419,000 after purchasing an additional 660 shares during the period. 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.