Ice Mountain LLC, a significant shareholder in Zurn Elkay Water Solutions Corp (NYSE:ZWS), has executed a substantial sale of its holdings in the company. On April 15, Ice Mountain LLC sold 103,768 shares at an average price of $31.96 per share, totaling approximately $3.3 million.
The shares were sold in a series of transactions with prices ranging from $31.91 to $32.27. This information was disclosed in a recent filing, with the company stating that full details regarding the number of shares sold at each price would be provided upon request.
Following the sale, Ice Mountain LLC's directly held stake in Zurn Elkay Water Solutions Corp has been adjusted to 24,798,932 shares. It is important to note that Cascade Bay LLC is the manager and sole Class A Member of Ice Mountain LLC, and the Katz 2004 DYN Trust acts as the Special Assets Manager for Cascade Bay. Both entities may be deemed to beneficially own the shares held by Ice Mountain LLC due to their management roles.
Zurn Elkay Water Solutions Corp, headquartered in Milwaukee, Wisconsin, specializes in water solutions and is known for its industrial machinery and equipment. The recent transactions by Ice Mountain LLC reflect a significant movement in the ownership of the company's shares.
InvestingPro Insights
Zurn Elkay Water Solutions Corp (NYSE:ZWS) has been the subject of investor attention following Ice Mountain LLC's notable share sale. For those looking to understand the company's financial health and potential future performance, InvestingPro provides key metrics and insights. With a market capitalization of $5.41 billion and a P/E ratio that stands at 48.08, Zurn Elkay appears to be trading at a high earnings multiple. However, when adjusted for the last twelve months as of Q4 2023, the P/E ratio is slightly lower at 43.64, indicating a potential alignment with near-term earnings growth.
Analyzing the company's profitability, Zurn Elkay has a PEG ratio of 0.89, which could suggest that its stock price is reasonable relative to its earnings growth. This aligns with an InvestingPro Tip highlighting that the company is trading at a low P/E ratio in comparison to its near-term earnings growth prospects. Additionally, Zurn Elkay has demonstrated a strong return over the last year with a 53.42% price total return, complementing another InvestingPro Tip that points to the company's high return over the last year.
Investors might also find comfort in the fact that according to InvestingPro, the company's liquid assets exceed its short-term obligations, which can be a positive sign of financial stability. For those considering a deeper dive into Zurn Elkay's financials and strategic positioning, InvestingPro offers a wealth of additional insights, with a total of 9 InvestingPro Tips available. These tips can help investors make more informed decisions, and by using the coupon code PRONEWS24, they can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As Zurn Elkay navigates the waters of the water solutions industry, these financial metrics and expert tips could be crucial for investors assessing the company's potential in light of recent share transactions.
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