Insider Selling: Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells 100,000 Shares of Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Aimee Katz sold 100,000 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $29.04, for a total value of $2,904,000.00. Following the transaction, the insider now directly owns 23,574,164 shares of the company’s stock, valued at approximately $684,593,722.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS traded up $0.42 during trading hours on Tuesday, reaching $29.18. 921,718 shares of the company’s stock traded hands, compared to its average volume of 960,291. The stock has a market cap of $5.04 billion, a PE ratio of 40.70, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The firm’s 50 day simple moving average is $31.26 and its 200-day simple moving average is $31.00. Zurn Elkay Water Solutions Co. has a 12 month low of $25.09 and a 12 month high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $374.00 million during the quarter, compared to the consensus estimate of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. Equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, May 20th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.32 dividend on an annualized basis and a yield of 1.10%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ZWS shares. Oppenheimer lifted their target price on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. 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 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $33.50.

Institutional Trading of Zurn Elkay Water Solutions

A number of hedge funds have recently bought and sold shares of ZWS. Wells Fargo & Company MN lifted its position in Zurn Elkay Water Solutions by 2,110.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock worth $67,968,000 after buying an additional 2,206,508 shares during the last quarter. Norges Bank bought a new stake in Zurn Elkay Water Solutions in the 4th quarter worth approximately $39,532,000. Raymond James & Associates lifted its position in Zurn Elkay Water Solutions by 1,622.8% in the 4th quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock worth $36,592,000 after buying an additional 1,171,985 shares during the last quarter. Jennison Associates LLC lifted its position in Zurn Elkay Water Solutions by 68.6% in the 1st quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock worth $42,684,000 after buying an additional 518,733 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Zurn Elkay Water Solutions by 3,236.0% in the 4th quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock worth $14,889,000 after buying an additional 491,093 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

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.