Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Ice Mountain Llc Sells 50,172 Shares

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the transaction, the insider now owns 24,998,760 shares in the company, valued at $804,460,096.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 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 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.

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock opened at $32.52 on Wednesday. The stock has a market cap of $5.63 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 1.79 and a beta of 1.22. The business has a fifty day simple moving average of $31.87 and a 200-day simple moving average of $29.65. 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 Co. has a 12 month low of $20.03 and a 12 month high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Monday, February 5th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $356.80 million during the quarter, compared to analysts’ expectations of $350.55 million. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. Zurn Elkay Water Solutions’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. On average, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 49.23%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price objective for the company. KeyCorp lowered Zurn Elkay Water Solutions from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 13th. Stifel Nicolaus lowered Zurn Elkay Water Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Tuesday, December 19th. Finally, Mizuho lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.25.

Institutional Trading of Zurn Elkay Water Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC boosted its position in Zurn Elkay Water Solutions by 111,056.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,777,778 shares of the company’s stock valued at $460,600,000 after purchasing an additional 21,758,186 shares during the last quarter. Vanguard Group Inc. boosted its position in Zurn Elkay Water Solutions by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock valued at $404,041,000 after purchasing an additional 131,683 shares during the last quarter. BlackRock Inc. boosted its position in Zurn Elkay Water Solutions by 33.7% during the second quarter. BlackRock Inc. now owns 11,869,166 shares of the company’s stock valued at $319,162,000 after purchasing an additional 2,994,006 shares during the last quarter. Bank of America Corp DE boosted its position in Zurn Elkay Water Solutions by 5.0% during the first quarter. Bank of America Corp DE now owns 7,857,541 shares of the company’s stock valued at $167,837,000 after purchasing an additional 374,409 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Zurn Elkay Water Solutions by 145.1% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock valued at $202,037,000 after purchasing an additional 4,268,785 shares during the last quarter. 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.