Ice Mountain LLC, a significant shareholder in Zurn Elkay Water Solutions Corp (NYSE:ZWS), has executed a sizeable stock sale according to recent filings. The transaction involved the sale of 46,380 shares at an average price of $32.00, totaling approximately $1.48 million. The shares were sold on May 24, 2024, in multiple transactions at prices ranging from $32.00 to $32.04.
The recent transaction has drawn attention due to the substantial amount of shares involved. Ice Mountain LLC is managed by Cascade Bay LLC, with Katz 2004 DYN Trust serving as the Special Assets Manager. These entities may be deemed to have beneficial ownership of the shares directly held by Ice Mountain LLC.
Following the sale, Ice Mountain LLC's holdings in Zurn Elkay Water Solutions Corp have adjusted to a total of 24,168,932 shares. This transaction reflects a change in the investment portfolio of the involved entities but does not necessarily indicate a strategic shift regarding Zurn Elkay Water Solutions Corp.
Investors and market watchers often scrutinize such filings for insights into the sentiment and financial moves of significant shareholders. The details of the transaction, including the number of shares sold at each price point within the reported range, are available upon request, as stated in the footnotes of the filing.
Zurn Elkay Water Solutions Corp, with its ticker symbol ZWS, is known for its position in the general industrial machinery and equipment industry. The company's business activities and financial performance continue to be a point of interest for stakeholders and potential investors alike.
The report was signed by John Thickens, Senior Vice President of Northern Trust (NASDAQ:NTRS) Company, on behalf of Ice Mountain LLC, Cascade Bay LLC, and Katz 2004 DYN Trust on May 28, 2024.
InvestingPro Insights
In light of the recent stock sale by Ice Mountain LLC, investors may be curious about the current financial standing and future prospects of Zurn Elkay Water Solutions Corp (NYSE:ZWS). According to InvestingPro data, Zurn Elkay Water Solutions Corp has a market capitalization of $5.26 billion, reflecting its substantial presence in the industrial machinery and equipment sector. The company's Price-to-Earnings (P/E) ratio stands at 42.58, which might seem high, but it's important to note that the adjusted P/E ratio for the last twelve months as of Q1 2024 is slightly lower at 37.88. This could suggest that investors are expecting higher earnings in the future.
Another key financial metric, the Price/Earnings to Growth (PEG) ratio, is at 0.42 for the same period, indicating that the company's stock might be undervalued based on its earnings growth. The Gross Profit Margin is robust at 43.69%, which is a healthy sign of the company's profitability from its core operations.
InvestingPro Tips for Zurn Elkay Water Solutions Corp highlight several positive indicators. The company has a perfect Piotroski Score of 9, suggesting strong financial health. Additionally, net income is expected to grow this year, and six analysts have revised their earnings upwards for the upcoming period. For investors looking for more detailed analysis and tips, there are 10 additional InvestingPro Tips available, which can be accessed by visiting the dedicated page for Zurn Elkay Water Solutions Corp at https://www.investing.com/pro/ZWS. To gain an even deeper understanding and access to these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Overall, the financial data and InvestingPro Tips suggest that Zurn Elkay Water Solutions Corp is positioned for potential growth, with solid profitability and positive revisions in earnings expectations. These factors may provide context for investors evaluating the recent stock sale and considering the company's long-term prospects.
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