In a recent transaction, an insider at Zurn Elkay Water Solutions Corp (NYSE:ZWS) has sold a significant amount of company stock, totaling over $7.9 million. The sale occurred on April 22, 2024, with the shares being sold at an average price of $32.04.
The insider, April Jalazo, who is associated with the company as a ten percent owner, disposed of 249,582 shares of the company's common stock. The transactions took place at prices ranging from $31.90 to $32.19 per share. This information was disclosed in a regulatory filing with the Securities and Exchange Commission.
Following the transaction, the reporting person's ownership in Zurn Elkay Water Solutions Corp has been adjusted. The shares sold were indirectly held through entities where April Jalazo has a voting power. Specifically, the shares are directly held by Ice Mountain LLC, with Cascade Bay LLC as its manager and the Katz 2004 DYN Trust as the Special Assets Manager. April Jalazo is a seat holder on the voting committee with the power to direct the entities involved, hence may be deemed to beneficially own the shares.
Investors and the market often monitor insider transactions as they can provide insights into an insider's view of the company's value. The sale by April Jalazo represents a notable change in her stake in the company, and it is a significant transaction in terms of value.
Zurn Elkay Water Solutions Corp, which operates in the general industrial machinery and equipment sector, has not made any official statement regarding the transaction. The company's stock continues to be traded on the New York Stock Exchange under the ticker symbol ZWS.
InvestingPro Insights
Amid the recent insider transaction at Zurn Elkay Water Solutions Corp (NYSE:ZWS), where a substantial amount of stock was sold, it's valuable to look at the company's financial health and market performance through various metrics. Here's what the real-time data from InvestingPro tells us:
- The company's market capitalization stands at a robust $5.53 billion, indicating a significant presence in the industrial machinery and equipment sector.
- Zurn Elkay Water Solutions Corp is currently trading at a forward P/E ratio of 39.96, suggesting that investors are expecting earnings to grow in the coming year.
- With a PEG Ratio for the last twelve months as of Q1 2024 at 0.43, the company's price-to-earnings growth is viewed favorably, indicating that it may be undervalued based on its earnings growth.
Moreover, an InvestingPro Tip highlights that Zurn Elkay Water Solutions Corp has a perfect Piotroski Score of 9, which could be a sign of solid financial health and potential for outperformance. Additionally, analysts predict the company will be profitable this year, a sentiment that aligns with the insider's decision to sell shares at this point in time.
For investors seeking a deeper dive into Zurn Elkay Water Solutions Corp's performance and potential, there are additional InvestingPro Tips available. These include insights on near-term earnings growth, the company's debt levels, and liquidity. Subscribers can find more of these valuable tips at: https://www.investing.com/pro/ZWS.
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