Zurn Elkay Water Solutions Co. (NYSE:ZWS) Major Shareholder Aimee Katz Sells 100,000 Shares

Zurn Elkay Water Solutions Co. (NYSE:ZWS) major shareholder Aimee Katz sold 100,000 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the completion of the sale, the insider now owns 23,574,164 shares of the company’s stock, valued at $684,593,722.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $29.18 on Wednesday. The stock’s fifty day moving average is $31.26 and its 200 day moving average is $31.00. Zurn Elkay Water Solutions Co. has a one year low of $25.09 and a one year high of $34.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.31. The stock has a market cap of $5.04 billion, a P/E ratio of 41.10, a P/E/G ratio of 1.53 and a beta of 1.16.

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 firm had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. Sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current 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 paid a $0.08 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

Institutional Trading of Zurn Elkay Water Solutions

Several institutional investors and hedge funds have recently modified their holdings of ZWS. Northern Trust Corp raised its holdings in Zurn Elkay Water Solutions by 4.9% during the third quarter. Northern Trust Corp now owns 1,558,078 shares of the company’s stock valued at $43,657,000 after acquiring an additional 72,278 shares during the period. Natixis Advisors L.P. boosted its stake in Zurn Elkay Water Solutions by 87.4% in the 3rd quarter. Natixis Advisors L.P. now owns 24,198 shares of the company’s stock worth $678,000 after purchasing an additional 11,284 shares during the period. Trexquant Investment LP purchased a new stake in Zurn Elkay Water Solutions during the 3rd quarter valued at approximately $1,065,000. Teza Capital Management LLC bought a new stake in shares of Zurn Elkay Water Solutions during the third quarter valued at approximately $207,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Zurn Elkay Water Solutions in the third quarter worth $523,000. 83.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ZWS shares. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, BNP Paribas began coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.