Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Sells $299,460,000.00 in Stock

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Aimee Katz sold 8,912,500 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now owns 15,002,819 shares of the company’s stock, valued at $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Zurn Elkay Water Solutions Stock Down 0.8 %

ZWS stock opened at $35.36 on Friday. The business’s 50-day simple moving average is $37.67 and its 200 day simple moving average is $36.30. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.01 billion, a PE ratio of 38.43, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. Zurn Elkay Water Solutions Co. has a twelve month low of $28.25 and a twelve month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. On average, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Thursday, February 20th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

A number of hedge funds have recently made changes to their positions in ZWS. GAMMA Investing LLC increased its stake in Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after acquiring an additional 544 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 3rd quarter valued at approximately $36,000. Atala Financial Inc bought a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter valued at approximately $44,000. Tsfg LLC bought a new position in shares of Zurn Elkay Water Solutions during the 4th quarter worth approximately $56,000. Finally, Tortoise Investment Management LLC boosted its stake in Zurn Elkay Water Solutions by 77.4% in the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock valued at $65,000 after buying an additional 755 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Robert W. Baird lifted their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Mizuho increased their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions has an average rating of “Moderate Buy” and an average target price of $38.67.

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.