Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Ice Mountain Llc Sells 49,828 Shares

Zurn Elkay Water Solutions Co. (NYSE:ZWS - Get Free Report) major shareholder Ice Mountain Llc sold 49,828 shares of the company's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $32.07, for a total value of $1,597,983.96. Following the sale, the insider now directly owns 24,948,932 shares of the company's stock, valued at $800,112,249.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Ice Mountain Llc also recently made the following trade(s):

• 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 Price Performance

ZWS stock traded up $0.53 during midday trading on Tuesday, reaching $32.52. 789,490 shares of the company's stock traded hands, compared to its average volume of 972,701. The company has a 50-day simple moving average of $31.83 and a two-hundred day simple moving average of $29.62. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 49.51, a PEG ratio of 1.79 and a beta of 1.22. Zurn Elkay Water Solutions Co. has a 1-year low of $20.03 and a 1-year high of $34.58. 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 - Get Free Report) last released its 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. The company 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%. The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. On average, analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current 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 dividend of $0.08 per share. The ex-dividend date was Friday, February 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 49.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LVW Advisors LLC bought a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter valued at about $569,000. Huntington National Bank raised its holdings in Zurn Elkay Water Solutions by 29.5% during the third quarter. Huntington National Bank now owns 537,376 shares of the company's stock worth $15,057,000 after acquiring an additional 122,281 shares in the last quarter. Raymond James & Associates raised its holdings in Zurn Elkay Water Solutions by 1,622.8% during the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company's stock worth $36,592,000 after acquiring an additional 1,171,985 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Zurn Elkay Water Solutions by 8.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,039,076 shares of the company's stock worth $29,115,000 after acquiring an additional 83,182 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Zurn Elkay Water Solutions by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,726,242 shares of the company's stock worth $48,369,000 after acquiring an additional 19,074 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZWS has been the topic of several research reports. Mizuho lowered Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 target price on the stock. in a research report on Friday, February 9th. KeyCorp lowered Zurn Elkay Water Solutions from an "overweight" rating to a "sector weight" rating in a research report 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 on the stock. in a report on Tuesday, December 19th. Finally, BNP Paribas started coverage on 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $32.25.

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.

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