An insider at Zurn Elkay Water Solutions Corp (NYSE:ZWS), a company known for its expertise in water solutions and industrial machinery, has recently sold a significant amount of company stock. The transactions, which took place on May 24, 2024, were disclosed in a regulatory filing with the Securities and Exchange Commission (SEC).
The filing revealed that an insider, who is a ten percent owner, sold a total of 46,380 shares of common stock at an average price of $32.00, amounting to a total value of $1,484,160. The sales were executed in multiple transactions at prices that ranged from $32.00 to $32.04 per share. The SEC filing includes a commitment from the reporting person to provide full information regarding the number of shares sold at each separate price within the range, upon request.
Following the sale, the insider retains a significant holding in the company, with direct ownership of shares by entities with which the insider is associated. The shares are held by Ice Mountain LLC, Katz New VBA Trust, and Katz Voting Stock Trust, and the insider holds a position on the voting committees of these entities with the power to direct their actions.
The insider, April Jalazo, may be deemed to beneficially own the shares held by these entities. However, Jalazo has disclaimed beneficial interest in the shares except to the extent of her pecuniary interest therein. After the sale, Ice Mountain LLC directly holds 24,168,932 shares, while Katz New VBA Trust and Katz Voting Stock Trust hold 14,101 and 236,387 shares, respectively.
Investors often monitor insider transactions as they may provide insights into the insider’s view of the company's value and prospects. The sale of Zurn Elkay Water Solutions stock by an insider is a notable event that market participants may wish to consider as they evaluate their investment positions.
Zurn Elkay Water Solutions Corp, with its headquarters in Milwaukee, Wisconsin, operates under the General Industrial Machinery & Equipment industry. The company has undergone several name changes in the past, previously known as Zurn Water Solutions Corp and Rexnord (NYSE:ZWS) Corp.
For further details and updates on Zurn Elkay Water Solutions Corp, investors are encouraged to review the company's filings and press releases.
InvestingPro Insights
As investors digest the news of insider stock sales at Zurn Elkay Water Solutions Corp (NYSE:ZWS), it's essential to consider the company's financial health and market performance. According to InvestingPro data, Zurn Elkay Water Solutions Corp has a market capitalization of $5.26 billion, indicating a substantial presence in the General Industrial Machinery & Equipment industry. The company's P/E ratio stands at 42.58, which suggests a higher valuation compared to the market average. However, when adjusted for the last twelve months as of Q1 2024, the P/E ratio slightly decreases to 37.88, potentially indicating a more favorable outlook on earnings.
InvestingPro Tips highlight that Zurn Elkay Water Solutions Corp has achieved a perfect Piotroski Score of 9, reflecting strong financial health and profitability. Additionally, the company is expected to see net income growth this year, with six analysts revising their earnings upwards for the upcoming period. Moreover, the company's stock is noted for trading with low price volatility, which might appeal to investors seeking stability.
For those considering adding Zurn Elkay Water Solutions Corp to their portfolio or seeking to understand the implications of insider transactions, InvestingPro offers an array of additional tips. There are 10 more InvestingPro Tips available, which can provide deeper insights into the company's performance and outlook. By using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to these valuable tips and real-time metrics.
Investors can find further details on Zurn Elkay Water Solutions Corp and access these InvestingPro Tips by visiting https://www.investing.com/pro/ZWS. With the next earnings date set for July 23, 2024, market watchers will be keen to see if the insider's stock sale aligns with the company's performance and future prospects.
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