Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells 687 Shares of Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Ice Mountain Llc sold 687 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $31.25, for a total value of $21,468.75. Following the completion of the transaction, the insider now directly owns 23,874,164 shares in the company, valued at $746,067,625. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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, May 24th, Ice Mountain Llc sold 46,380 shares of Zurn Elkay Water Solutions stock. The shares were sold at an average price of $32.00, for a total value of $1,484,160.00.
• On Wednesday, May 22nd, Ice Mountain Llc sold 48,388 shares of Zurn Elkay Water Solutions stock. The shares were sold at an average price of $32.97, for a total value of $1,595,352.36.
• 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 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 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 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 Up 0.5 %

Shares of NYSE ZWS opened at $30.78 on Tuesday. Zurn Elkay Water Solutions Co. has a 12-month low of $25.09 and a 12-month high of $34.58. The company has a market capitalization of $5.32 billion, a PE ratio of 43.35, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.95. The firm’s 50-day moving average is $31.67 and its two-hundred day moving average is $30.98.

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. The business had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 earnings per share. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Monday, May 20th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, May 17th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Zurn Elkay Water Solutions by 1.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 20,109 shares of the company’s stock valued at $591,000 after buying an additional 359 shares during the last quarter. Assetmark Inc. raised its position in shares of Zurn Elkay Water Solutions by 32.9% in the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock valued at $85,000 after buying an additional 718 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Zurn Elkay Water Solutions by 16.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock worth $203,000 after purchasing an additional 1,000 shares during the last quarter. Principal Securities Inc. acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth approximately $34,000. Finally, Amalgamated Bank increased its position in Zurn Elkay Water Solutions by 7.9% during the third quarter. Amalgamated Bank now owns 16,227 shares of the company’s stock worth $455,000 after purchasing an additional 1,187 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

ZWS has been the topic of a number of research analyst reports. Oppenheimer boosted their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. BNP Paribas started coverage on shares of 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.