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 April 19, 2024, involved the sale of 43,690 shares at an average price of $31.93, resulting in a total value of $1,395,021.
The shares were sold in multiple transactions with prices ranging from $31.91 to $31.94. This price range reflects a weighted average, indicating that the sales occurred at varying prices within this narrow band. The insider associated with these transactions is April Jalazo, who may be deemed to beneficially own the shares through indirect means.
According to the filing, the shares sold were directly held by Ice Mountain LLC, with April Jalazo having a role that may be considered to have influence over the beneficial ownership of the shares. Despite this, Jalazo has disclaimed beneficial interest in these shares, except to the extent of her pecuniary interest therein.
Following the transaction, the total number of shares owned indirectly by Jalazo, through entities such as Ice Mountain LLC, Katz New VBA Trust, and Katz Voting Stock Trust, amounts to a substantial holding in the company. These entities are connected to Jalazo through various roles and responsibilities she holds within their respective voting committees.
The sale represents a notable change in the holdings of Zurn Elkay Water Solutions Corp by an insider, and the details provided in the footnote of the Form 4 filing give insight into the complex structure of ownership and influence. The transaction was duly signed by April Jalazo and filed with the Securities and Exchange Commission on April 22, 2024.
Investors and market watchers often pay close attention to insider transactions as they can provide valuable insights into the perspectives of those most closely associated with the company. Zurn Elkay Water Solutions Corp, with its specialization in general industrial machinery and equipment, remains a company of interest for those tracking movements within the industry.
InvestingPro Insights
Amidst the insider trading activity, Zurn Elkay Water Solutions Corp (NYSE:ZWS) continues to garner attention from investors. The company, which specializes in general industrial machinery and equipment, has shown promising financial metrics as of the last twelve months ending Q4 2023. According to InvestingPro data, Zurn Elkay Water Solutions Corp holds a market capitalization of $5.68 billion and has experienced a revenue growth of 19.4%, indicating a robust expansion in its business operations.
One of the key InvestingPro Tips highlights that the company is expected to see net income growth this year. This is a crucial indicator for potential investors, as it suggests that Zurn Elkay is on a trajectory to improve its profitability. Additionally, the company's P/E ratio, which stands at 45.69 when adjusted for the last twelve months as of Q4 2023, is considered low relative to its near-term earnings growth, providing an attractive entry point for value investors.
Furthermore, the company's strong performance is reflected in its share price, which has seen a significant uptick of 54.54% over the last year. This performance aligns with another InvestingPro Tip that notes the company has achieved a high return over the last year. Zurn Elkay's financial stability is also supported by its liquid assets, which exceed its short-term obligations, and it operates with a moderate level of debt, ensuring that it maintains a healthy balance sheet.
For those interested in gaining a deeper understanding of Zurn Elkay Water Solutions Corp's financial outlook, InvestingPro offers a comprehensive suite of additional tips. There are 11 more InvestingPro Tips available for ZWS at InvestingPro, which can provide investors with a more detailed analysis. To enhance your investment research experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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