In a recent transaction, an insider at Zurn Elkay Water Solutions Corp (NYSE:ZWS) sold a significant number of shares in the company. The transaction, which took place on May 24, involved the sale of 46,380 shares at an average price of $32.00, with prices ranging from $32.00 to $32.04 per share. The total value of the shares sold amounted to approximately $1.48 million.
The insider, identified as Aimee Katz, is reported to hold a substantial number of shares indirectly through various entities. According to the footnotes provided in the filing, Katz has an indirect interest in the shares through Ice Mountain LLC, Katz New VBA Trust, and Katz Voting Stock Trust, with the power to direct the voting and investment decisions for these entities.
Despite the considerable transaction, Katz still maintains a significant stake in Zurn Elkay Water Solutions Corp, with 24,168,932 shares remaining after the sale. These shares are held indirectly and are associated with different trusts and entities, as detailed in the footnotes of the SEC filing.
Investors often look to insider transactions as a signal of the executive's confidence in the company's current state and future prospects. While the sale of stock by an insider does not necessarily indicate a lack of confidence, it is a piece of information that shareholders and potential investors may consider when evaluating their investment in the company.
Zurn Elkay Water Solutions Corp specializes in water solutions and industrial machinery and equipment, and it is incorporated in the state of Delaware. The company's business address is located in Milwaukee, Wisconsin.
InvestingPro Insights
Zurn Elkay Water Solutions Corp (NYSE:ZWS) has been making waves in the water solutions industry, and recent insider transactions have put the spotlight on the company's financial health and growth prospects. As investors digest the news of insider Aimee Katz's stock sale, it's important to consider the company's performance metrics and what the experts are saying.
According to InvestingPro data, Zurn Elkay Water Solutions Corp has a market capitalization of $5.26 billion. The company's P/E ratio stands at 42.58, indicating the price investors are willing to pay for a dollar of earnings. However, when adjusted for the last twelve months as of Q1 2024, the P/E ratio shows a more favorable figure of 37.88. This suggests that investors may see the company's earnings improving in the near term.
The revenue growth for the company has been positive, with an 8.34% increase over the last twelve months as of Q1 2024. This steady growth is a sign of the company's ability to expand its sales and market presence. Additionally, the gross profit margin of 43.69% indicates a strong ability to control costs and generate earnings above the cost of goods sold.
Two InvestingPro Tips that stand out for Zurn Elkay Water Solutions Corp are the perfect Piotroski Score of 9, which suggests the company is financially healthy and has sound accounting practices. Moreover, analysts predict the company will be profitable this year, backed by a net income expected to grow. With six analysts revising their earnings upwards for the upcoming period, the confidence in Zurn Elkay's financial trajectory is palpable.
Investors interested in a deeper dive into Zurn Elkay Water Solutions Corp's financials and future outlook can find additional InvestingPro Tips by visiting InvestingPro. There are 11 tips in total, which can provide valuable insights into the company's performance and potential investment opportunities. To access these insights, use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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