Ice Mountain Llc Sells 249,582 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 249,582 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the sale, the insider now directly owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 transaction 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 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 shares were sold at an average price of $32.18, for a total transaction of $1,614,534.96.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS opened at $31.88 on Friday. The company’s fifty day moving average is $31.93 and its 200-day moving average is $29.99. Zurn Elkay Water Solutions Co. has a 12 month low of $20.06 and a 12 month high of $34.58. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 44.90, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $374.00 million during the quarter, compared to the consensus estimate of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.87%. Zurn Elkay Water Solutions’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. Equities 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Institutional Trading of Zurn Elkay Water Solutions

Several large investors have recently modified their holdings of ZWS. IFP Advisors Inc boosted its holdings in shares of Zurn Elkay Water Solutions by 70.9% during the 3rd quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock worth $72,000 after buying an additional 1,064 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 368.9% during the 3rd quarter. SG Americas Securities LLC now owns 35,475 shares of the company’s stock worth $994,000 after buying an additional 27,910 shares during the period. Cannon Global Investment Management LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 3rd quarter worth $280,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Zurn Elkay Water Solutions by 1.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,339 shares of the company’s stock worth $2,223,000 after buying an additional 982 shares during the period. Finally, Strs Ohio boosted its holdings in Zurn Elkay Water Solutions by 19.0% in the 3rd quarter. Strs Ohio now owns 13,800 shares of the company’s stock valued at $386,000 after purchasing an additional 2,200 shares during the period. 83.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ZWS shares. Oppenheimer upped their price objective on shares of 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Friday, February 9th. Finally, BNP Paribas started 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 on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.