Ice Mountain Llc Sells 103,768 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 103,768 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $31.96, for a total transaction of $3,316,425.28. Following the completion of the transaction, the insider now owns 24,798,932 shares of the company’s stock, valued at approximately $792,573,866.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 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 shares were sold at an average price of $32.07, for a total transaction 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 transaction of $1,614,534.96.

Zurn Elkay Water Solutions Stock Down 1.5 %

Shares of ZWS stock traded down $0.47 during trading on Wednesday, hitting $31.25. 823,524 shares of the company were exchanged, compared to its average volume of 957,679. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 48.08, a P/E/G ratio of 1.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.02. The business’s 50-day simple moving average is $31.98 and its 200 day simple moving average is $29.79. Zurn Elkay Water Solutions Co. has a twelve month low of $20.06 and a twelve month high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.26 EPS 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 business had revenue of $356.80 million for the quarter, compared to analysts’ expectations of $350.55 million. During the same period in the previous year, the company posted $0.16 EPS. Zurn Elkay Water Solutions’s revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend 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%.

Analyst Ratings Changes

ZWS has been the topic of a number of recent research reports. BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 target price on the stock. Oppenheimer boosted their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Mizuho cut shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Friday, February 9th. Finally, Stifel Nicolaus lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Tuesday, December 19th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.75.

Institutional Trading of Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its stake in shares of Zurn Elkay Water Solutions by 1,087.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,354 shares of the company’s stock worth $28,000 after purchasing an additional 1,240 shares during the period. Principal Securities Inc. bought a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at $34,000. IFP Advisors Inc lifted its holdings in shares of Zurn Elkay Water Solutions by 50.0% in the second quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock valued at $40,000 after purchasing an additional 500 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Zurn Elkay Water Solutions during the 4th quarter worth approximately $42,000. Finally, KBC Group NV bought a new position in Zurn Elkay Water Solutions in the fourth quarter valued at $63,000. Institutional investors and hedge funds 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.