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 dated 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 transaction, the insider now owns 24,755,242 shares in the company, valued at $790,434,877.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major 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 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 value of $7,996,607.28.
• 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 stock was 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 stock was sold at an average price of $32.18, for a total value of $1,614,534.96.

Zurn Elkay Water Solutions Stock Down 1.9 %

Shares of NYSE:ZWS opened at $32.12 on Thursday. Zurn Elkay Water Solutions Co. has a 52-week low of $20.06 and a 52-week high of $34.58. The firm has a market capitalization of $5.56 billion, a P/E ratio of 49.42, a P/E/G ratio of 1.78 and a beta of 1.22. The stock has a 50 day moving average price of $31.94 and a 200-day moving average price of $29.98. 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 data on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The company had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 49.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ZWS shares. BNP Paribas started coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective for the company. Oppenheimer increased 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. Finally, Mizuho cut Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LVW Advisors LLC bought a new position in Zurn Elkay Water Solutions during the 4th quarter valued at approximately $569,000. Huntington National Bank increased its position in Zurn Elkay Water Solutions by 29.5% during the 3rd quarter. Huntington National Bank now owns 537,376 shares of the company’s stock valued at $15,057,000 after buying an additional 122,281 shares in the last quarter. Raymond James & Associates increased its position in Zurn Elkay Water Solutions by 1,622.8% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Zurn Elkay Water Solutions by 8.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,039,076 shares of the company’s stock valued at $29,115,000 after buying an additional 83,182 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,726,242 shares of the company’s stock valued at $48,369,000 after buying an additional 19,074 shares in 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.