A significant transaction was reported at Zurn Elkay Water Solutions Corp (NYSE:ZWS), where an insider has sold a substantial amount of the company's stock. The transaction involved the sale of 236,728 shares at an average price of $32.44 per share, totaling over $7.6 million.
The insider, identified as Aimee Katz, is associated with multiple entities that hold Zurn Elkay Water Solutions stock indirectly. The shares sold were part of a series of transactions ranging from $32.10 to $32.73. Following this sale, Katz's associated entities still hold a considerable number of shares in the company.
Specifically, shares are held by Ice Mountain LLC, where Katz has a role in directing decisions, and by extension, Katz may be deemed to beneficially own these shares. However, Katz has disclaimed any beneficial interest in these shares except to the extent of her pecuniary interest. Similar arrangements exist with Katz New VBA Trust and Katz Voting Stock Trust, where Katz also has a power to direct decisions.
Investors often monitor insider transactions as they can provide insights into how the company's executives and significant shareholders view the stock's value. While the sale of stock by insiders is not uncommon, transactions of this magnitude can sometimes influence market perceptions.
Zurn Elkay Water Solutions Corp, listed on the New York Stock Exchange under the ticker ZWS, is known for its role in the industrial machinery and equipment sector. The company's stock performance and insider transactions are closely watched by investors seeking to understand the company's financial health and future prospects.
For those interested in the specifics of the transactions and the remaining holdings, the details are publicly available and provide transparency into the trading activities of the company's insiders.
InvestingPro Insights
Zurn Elkay Water Solutions Corp (NYSE:ZWS) has recently been in the spotlight due to a significant insider transaction. While such sales are a normal part of market activities, they often prompt investors to look more closely at the company's financial metrics and future potential. To further inform our understanding of ZWS's financial health and investment potential, let's consider some key real-time data from InvestingPro.
With a market capitalization of approximately $5.51 billion, Zurn Elkay Water Solutions Corp is a noteworthy player in its sector. The company's Price to Earnings (P/E) ratio stands at 44.57, which aligns with the adjusted P/E ratio for the last twelve months as of Q1 2024 at 39.96. This suggests that investors are willing to pay a higher price for the company's earnings, which can be indicative of expected growth or a strong competitive position in the market. The Price to Earnings Growth (PEG) ratio, a metric that relates the P/E ratio to the company's earnings growth rate, is at a low 0.43, hinting at the stock possibly being undervalued relative to its earnings growth.
From an operational standpoint, Zurn Elkay's gross profit margin for the last twelve months as of Q1 2024 is robust at 43.69%, reflecting the company's ability to manage its cost of goods sold effectively. This is further supported by an operating income margin of 14.95%, indicating healthy operational efficiency.
Turning to InvestingPro Tips, Zurn Elkay Water Solutions Corp boasts a perfect Piotroski Score of 9, which is a strong signal of the company's financial stability. Additionally, the company's net income is expected to grow this year, which could be a compelling reason for investors to consider ZWS as a potential addition to their portfolios.
For those who find these insights valuable and wish to delve deeper into Zurn Elkay Water Solutions Corp's financials and future outlook, InvestingPro provides a wealth of additional tips. In fact, there are 9 more InvestingPro Tips available for ZWS, which can be accessed at https://www.investing.com/pro/ZWS. To enhance your investment research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to exclusive metrics and expert analyses.
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