Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells $39,380.60 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS - Get Free Report) major shareholder Ice Mountain Llc sold 1,223 shares of the firm's stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $32.20, for a total transaction of $39,380.60. Following the transaction, the insider now owns 24,947,709 shares in the company, valued at approximately $803,316,229.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 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 Price Performance

Shares of NYSE ZWS traded down $0.25 during trading on Monday, reaching $31.66. The company had a trading volume of 855,450 shares, compared to its average volume of 961,982. Zurn Elkay Water Solutions Co. has a 52 week low of $20.06 and a 52 week high of $34.58. The business's 50 day moving average price is $31.97 and its 200-day moving average price is $29.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.02. The stock has a market cap of $5.48 billion, a PE ratio of 48.37, a PEG ratio of 1.78 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly 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. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The company had revenue of $356.80 million during the quarter, compared to analysts' expectations of $350.55 million. During the same quarter in the previous year, the company earned $0.16 EPS. Zurn Elkay Water Solutions's revenue was up 4.9% on a year-over-year basis. Analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions's dividend payout ratio is 49.23%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an "outperform" rating in a report on Friday. BNP Paribas assumed 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 target for the company. Stifel Nicolaus downgraded shares of Zurn Elkay Water Solutions from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a report on Tuesday, December 19th. Finally, Mizuho downgraded shares of Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 target price for the company. in a research note on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $32.75.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several institutional investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC grew its holdings 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 period. Kayne Anderson Rudnick Investment Management LLC grew its holdings 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 period. BlackRock Inc. grew its holdings 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 period. Wells Fargo & Company MN grew its holdings in Zurn Elkay Water Solutions by 2,110.7% during the fourth quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company's stock valued at $67,968,000 after purchasing an additional 2,206,508 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Zurn Elkay Water Solutions by 18.4% during the third quarter. Vanguard Group Inc. now owns 13,446,027 shares of the company's stock valued at $329,428,000 after purchasing an additional 2,085,426 shares during the period. 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.

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