Ice Mountain LLC, a significant shareholder in Zurn Elkay Water Solutions Corp (NYSE:ZWS), has recently sold a portion of its holdings in the company. The transaction, which took place on April 19, 2024, involved the sale of 43,690 shares at a weighted average price of $31.93, netting a total of approximately $1.39 million.
The sales were executed in multiple transactions with prices ranging between $31.91 and $31.94 per share. Following the sale, Ice Mountain LLC's direct holdings in Zurn Elkay Water Solutions Corp have been adjusted to 24,755,242 shares.
The recent transaction may interest investors tracking insider activity as it reflects a sizable divestment by a major shareholder. Ice Mountain LLC is managed by Cascade Bay LLC, with the Katz 2004 DYN Trust serving as the Special Assets Manager. Both Cascade Bay and the Katz 2004 DYN Trust may be considered to have beneficial ownership of the shares held directly by Ice Mountain LLC.
Investors and stakeholders in Zurn Elkay Water Solutions Corp can request detailed information about the specific prices at which the shares were sold within the reported range, as indicated in the footnotes of the filing document.
This sale comes amidst the normal course of trading activities and is part of the regular disclosures made by significant shareholders and insiders of publicly-traded companies. Zurn Elkay Water Solutions Corp, with its ticker symbol ZWS, is known for its work in the general industrial machinery and equipment sector.
The transactions were confirmed by John Thickens, Senior Vice President of Northern Trust (NASDAQ:NTRS) Company, who signed on behalf of Ice Mountain LLC, Cascade Bay LLC, and Katz 2004 DYN Trust. The reporting was filed in accordance with the Securities and Exchange Commission's requirements.
InvestingPro Insights
Zurn Elkay Water Solutions Corp (NYSE:ZWS) has been in the spotlight following a notable transaction by significant shareholder Ice Mountain LLC. As investors consider the implications of this insider activity, let's delve into some key financial metrics and insights provided by InvestingPro.
InvestingPro Data indicates that Zurn Elkay Water Solutions Corp holds a Market Cap of $5.68 billion USD, with a P/E Ratio currently standing at 50.53. The company has shown a strong Revenue Growth over the last twelve months as of Q4 2023, at 19.4%, underlining its robust financial performance in the recent period. Furthermore, Zurn Elkay's Gross Profit Margin is reported at 42.35%, suggesting efficient operations and a strong hold over its cost of goods sold.
Among the InvestingPro Tips, two particularly relevant ones stand out for Zurn Elkay Water Solutions Corp. Firstly, the company is expected to see its net income grow this year, which could signal a positive outlook for potential investors. Secondly, Zurn Elkay is currently trading at a low P/E ratio relative to near-term earnings growth, presenting a potentially attractive valuation for those looking at earnings potential versus market price.
For investors seeking more in-depth analysis and additional InvestingPro Tips, there are 11 tips available for Zurn Elkay Water Solutions Corp, which can be accessed through the InvestingPro platform. As you consider your investment strategy, remember to use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription, where you can find further insights and data to inform your decisions.
The recent sale by Ice Mountain LLC may indeed be part of regular trading activities, but the financial health and forward-looking metrics of Zurn Elkay Water Solutions Corp are certainly factors that should be considered by investors and stakeholders alike.
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