In a recent transaction on April 23, an insider of Zurn Elkay Water Solutions Corp (NYSE:ZWS) sold a significant amount of company stock, totaling over $7.6 million. The transaction involved the sale of 236,728 shares at an average price of $32.44 per share, according to the latest SEC filings.
The sales took place at prices ranging from $32.10 to $32.73, showcasing a varied execution strategy within the disclosed price range. This sale has altered the insider's holdings in the company, as detailed in the filing.
The shares in question are indirectly held through various entities, with the insider, April Jalazo, having a potential beneficial ownership due to her involvement in the voting committees of these entities. Specifically, the shares are directly held by entities such as Ice Mountain LLC, Katz New VBA Trust, and Katz Voting Stock Trust. While Jalazo may be deemed to beneficially own these shares, she has disclaimed beneficial interest except to the extent of her pecuniary interest therein.
Zurn Elkay Water Solutions Corp, operating in the general industrial machinery and equipment sector, is incorporated in Delaware with its business address in Milwaukee, Wisconsin.
This insider sale is a notable event for investors and market watchers, providing insight into the actions of company insiders and their perspective on the stock's value. The transaction has been publicly filed and is accessible for further review by any interested party, including shareholders and regulatory bodies.
InvestingPro Insights
Zurn Elkay Water Solutions Corp (NYSE:ZWS) has been the subject of investor attention following a substantial insider stock sale. As market participants analyze the implications of such insider movements, it is essential to consider the company's financial health and growth prospects. Here are some insights based on real-time data from InvestingPro and InvestingPro Tips that could shed light on ZWS's current market position and future outlook:
The company boasts a robust Piotroski Score of 9, indicating strong financial health and suggesting that the fundamentals could be supportive of future stock performance. Additionally, analysts are optimistic about ZWS's earnings trajectory, with net income expected to grow this year and two analysts having revised their earnings estimates upwards for the upcoming period. This could signal confidence in the company's ability to increase profitability.
From a valuation standpoint, ZWS's current P/E ratio stands at 44.57, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 39.96. The PEG ratio for the same period is 0.43, which might indicate that the stock is trading at a low price relative to near-term earnings growth expectations. Meanwhile, the company's market capitalization is reported to be $5.51 billion, reflecting its substantial size within its industry.
Investors looking for further insights can find more InvestingPro Tips related to Zurn Elkay Water Solutions Corp, including analysis on the company's debt levels, profitability, and stock price performance. For those interested in a deeper dive, there are additional tips available on InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to these valuable insights.
With the company's next earnings date scheduled for July 23, 2024, investors and analysts will be closely monitoring ZWS's performance and any strategic moves that may impact its stock valuation and market sentiment.
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