Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells 48,388 Shares of Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 48,388 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $32.97, for a total transaction of $1,595,352.36. Following the completion of the sale, the insider now directly owns 24,220,544 shares of the company’s stock, valued at approximately $798,551,335.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major 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 Monday, April 22nd, Ice Mountain Llc sold 249,582 shares of Zurn Elkay Water Solutions stock. The stock was 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 stock was sold at an average price of $31.93, for a total transaction of $1,395,021.70.
• On Monday, April 15th, Ice Mountain Llc sold 103,768 shares of Zurn Elkay Water Solutions stock. The stock was 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 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 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 traded down $0.48 during trading on Thursday, reaching $31.74. The company’s stock had a trading volume of 854,387 shares, compared to its average volume of 930,155. The stock has a 50-day moving average price of $32.18 and a two-hundred day moving average price of $30.77. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a one year low of $21.78 and a one year high of $34.58. The stock has a market capitalization of $5.48 billion, a P/E ratio of 45.07, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

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, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The company’s revenue was up .5% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, May 17th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ZWS shares. Deutsche Bank Aktiengesellschaft cut their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. BNP Paribas started coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price objective on the stock. Oppenheimer upped their target price 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. Finally, Mizuho lowered shares of 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 report on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.50.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Institutional investors have recently modified their holdings of the business. Principal Securities Inc. bought a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $34,000. Benjamin Edwards Inc. acquired a new position in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $42,000. EntryPoint Capital LLC increased its holdings in shares of Zurn Elkay Water Solutions by 649.1% during the 1st quarter. EntryPoint Capital LLC now owns 1,603 shares of the company’s stock worth $54,000 after acquiring an additional 1,389 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $76,000. Finally, Assetmark Inc. increased its holdings in shares of Zurn Elkay Water Solutions by 32.9% during the 4th quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock worth $85,000 after acquiring an additional 718 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions

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.