Zurn Elkay Water Solutions Corp (NYSE:ZWS) has reported a recent transaction involving one of its directors, Timothy J. Jahnke. According to the latest filing, Jahnke sold 314 shares of the company at a price of $33.0 per share, amounting to a total of $10,362.
The sale was executed on May 22, 2024, and was conducted pursuant to a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. This kind of plan offers insiders the opportunity to sell their shares without facing the scrutiny of potential insider trading.
Following the transaction, Jahnke's holdings in Zurn Elkay Water Solutions Corp now total 593,485 shares. The sale has been made public through the SEC's Form 4 filing, which documents the trades made by the company's insiders.
Investors often monitor insider sales as they may provide insights into an insider’s perspective on the company's current valuation or future prospects. However, it's important to note that these transactions do not necessarily indicate a change in company fundamentals, and may be part of an individual's personal financial management strategy.
Zurn Elkay Water Solutions Corp, headquartered in Milwaukee, Wisconsin, specializes in providing water solutions and is known in the industry for its general industrial machinery and equipment.
InvestingPro Insights
As Zurn Elkay Water Solutions Corp (NYSE:ZWS) navigates the market, recent data from InvestingPro provides a deeper look into the company's financial health and stock performance. With a market capitalization of $5.52 billion and a P/E ratio that has adjusted to 39.82 in the last twelve months as of Q1 2024, ZWS reflects a significant presence in the industrial machinery and equipment sector.
An impressive Piotroski Score of 9 indicates a robust financial position, which is supported by the company's liquid assets surpassing short-term obligations. Investors may find comfort in ZWS's stability, underscored by a low price volatility, as noted in InvestingPro Tips. Furthermore, the company's net income is expected to grow this year, and six analysts have revised their earnings upwards for the upcoming period, signaling potential for future financial success.
For those looking to delve deeper into Zurn Elkay Water Solutions Corp's financial metrics and stock analysis, InvestingPro offers additional insights. There are over 10 InvestingPro Tips available, providing a comprehensive understanding of ZWS's performance and prospects. To access these valuable tips, visit https://www.investing.com/pro/ZWS and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Investors may also take note of the company's revenue growth, which has seen an increase of 8.34% over the last twelve months as of Q1 2024. This growth, coupled with a solid gross profit margin of 43.69%, lays a strong foundation for the company's financial structure. Additionally, ZWS's commitment to returning value to shareholders is evident in its dividend yield of 1.01% and a dividend growth rate of 14.29% in the same period.
As the next earnings date approaches on July 23, 2024, market participants will be keen to see whether these positive financial metrics translate into sustained performance and shareholder value.
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