Thomas Christopoul, a director at Zurn Elkay Water Solutions Corp (NYSE:ZWS), recently sold shares of the company's stock, totaling over $336,000. The transactions occurred on May 6, 2024, and were disclosed in a regulatory filing with the Securities and Exchange Commission.
The director sold 10,495 shares of Zurn Elkay Water Solutions Corp at a weighted average price of $32.11, which varied in a range from $32.05 to $32.19 per share. The total value of the shares sold by Christopoul amounted to approximately $336,994. This sale was executed in multiple trades, and the prices reported reflect the weighted average sale price. Following the sale, Christopoul's ownership in the company decreased to 104,844 shares of common stock.
On the same day, Christopoul also acquired 10,495 shares through the exercise of stock options, with each option having an exercise price of $14.41. The total value for these transactions amounted to $151,232. It is noted that the options had fully vested, as indicated in the filing.
The transactions come as part of the regular disclosure of stock trades made by company insiders, providing transparency to investors and the market. Zurn Elkay Water Solutions Corp, with its trading symbol ZWS, is a company categorized under the general industrial machinery and equipment industry and is based in Milwaukee, Wisconsin.
Investors and the market often closely monitor insider transactions as they can provide insights into the perspectives of company executives and directors regarding the stock's value and future performance. However, such transactions are common and can be influenced by a variety of factors, including personal financial management.
The SEC filing ensures that all pertinent details regarding the transactions are publicly available, including the obligation of the reporting person to provide full information about the trades upon request.
InvestingPro Insights
Zurn Elkay Water Solutions Corp (NYSE:ZWS) is experiencing a positive outlook as reflected in some key financial metrics and analyst expectations. With a market capitalization of $5.54 billion, ZWS is demonstrating a robust financial position. The company's P/E ratio stands at 44.78, which indicates investor confidence in future earnings, and it's even more attractive when adjusted for the last twelve months as of Q1 2024, at 39.96. This suggests that the market may be acknowledging the company's growth potential.
InvestingPro Tips reveal that ZWS is expected to see growth in net income this year, which could be a driving factor behind the recent insider transactions. The company is also trading at a low P/E ratio relative to near-term earnings growth, with a PEG ratio for the last twelve months as of Q1 2024 at just 0.43, hinting at the stock's potential undervaluation considering its earnings growth rate.
Furthermore, the company has a strong track record with a high return over the last year, as indicated by a 51.16% one-year price total return. This performance is coupled with a consistent dividend yield of 1.0%, with a notable dividend growth of 14.29% in the last twelve months as of Q1 2024, rewarding shareholders for their investment.
For those looking to delve deeper into Zurn Elkay Water Solutions Corp's financial health and future prospects, InvestingPro offers an array of additional tips. Currently, there are 11 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/ZWS. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with valuable insights.
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