In a recent series of transactions, an insider at Zurn Elkay Water Solutions Corp (NYSE:ZWS) has sold a significant amount of company stock, totaling over $8 million. The sales occurred at prices ranging from $31.96 to $32.24 per share.
The insider, identified as Aimee Katz, who is associated with entities that hold a more than ten percent ownership in the company, executed multiple sales of Zurn Elkay Water Solutions Corp common stock. The transactions took place on various dates, with the first sale reported on April 5, 2024, and the most recent on April 15, 2024.
On April 5, Katz sold 50,172 shares at a weighted average price of $32.18. This was followed by a sale of 49,828 shares on April 8 at an average of $32.07 per share. On April 11, a smaller transaction of 1,223 shares was made at an average price of $32.20. Two more significant sales occurred on April 12 and April 15, with 45,009 shares sold at $32.24 per share and 103,768 shares at $31.96 per share, respectively.
The total value of the shares sold by Katz amounted to approximately $8,019,414, reflecting a notable transaction volume from the insider. Following these sales, Katz's associated entities continue to hold a substantial number of shares in the company.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides transparency regarding insider trades. The filing included footnotes indicating that the prices reported were weighted averages and that the shares were sold in multiple transactions at varying prices within the specified ranges.
Investors often monitor insider sales as they can provide insights into an insider's view of the company's current valuation and future prospects. However, it is important to note that such sales could be motivated by a variety of personal or financial considerations and may not necessarily reflect a negative outlook on the company's future.
Zurn Elkay Water Solutions Corp, with its ticker symbol ZWS on the New York Stock Exchange, operates within the general industrial machinery and equipment sector. The company has undergone several name changes in the past, reflecting its evolving business focus and corporate structure.
InvestingPro Insights
Zurn Elkay Water Solutions Corp (NYSE:ZWS) has recently seen significant insider trading activity, with transactions totaling over $8 million. As investors consider the implications of these insider sales, it's worth looking at some key metrics and insights from InvestingPro that could provide a more comprehensive understanding of the company's financial health and market position.
The company currently holds a market capitalization of $5.47 billion, which positions it as a notable player in the industrial machinery and equipment sector. Zurn Elkay's price-to-earnings (P/E) ratio stands at 48.84, which may seem high, but when adjusted for near-term earnings growth, the P/E ratio is more favorable at 44.11. This suggests that while the stock may not be the cheapest based on last year's earnings, it could be trading at a low P/E ratio relative to its expected growth, which is an InvestingPro Tip worth considering.
Moreover, the company's revenue for the last twelve months as of Q4 2023 reached $1,530.5 million, with a growth rate of 19.4%, highlighting a robust upward trajectory in sales. This is complemented by a healthy gross profit margin of 42.35%, indicating that Zurn Elkay is efficient in managing its cost of goods sold and maintaining profitability.
Investors should also note that Zurn Elkay has exhibited a strong return over the last year, with a 51.29% price total return, which is an impressive feat and aligns with another InvestingPro Tip suggesting a high return over the past year. This performance could be a positive signal for potential investors looking at the stock's recent momentum.
For those interested in exploring further, there are 8 additional InvestingPro Tips available, which can be accessed through the InvestingPro platform. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, potentially unlocking more insights that can help in making informed investment decisions.
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