In a recent transaction, Aimee Katz, a significant shareholder of Zurn Elkay Water Solutions Corp (NYSE:ZWS), sold 100,000 shares of the company's common stock. The sale was executed on June 10, 2024, and amounted to a total value of approximately $3.01 million. The shares were sold at a weighted average price of $30.10, with individual transactions ranging from $30.00 to $30.18 per share.
Following this sale, Katz's direct and indirect holdings in Zurn Elkay Water Solutions Corp include 24,068,932 shares held indirectly through Ice Mountain LLC, and smaller amounts of 6,678 and 14,101 shares held directly and indirectly through other entities, respectively. Moreover, Katz also indirectly holds 236,387 shares through Katz Voting Stock Trust.
The transactions were disclosed in a regulatory filing with the Securities and Exchange Commission. According to the filing's footnotes, Aimee Katz is associated with multiple trusts and entities that hold Zurn Elkay Water Solutions Corp shares. Katz is a member of the voting committees of these entities, which gives her the power to direct their investment decisions. However, she disclaims beneficial ownership of these shares except to the extent of her pecuniary interest.
Zurn Elkay Water Solutions Corp, with its headquarters in Milwaukee, Wisconsin, operates in the general industrial machinery and equipment sector. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol ZWS.
"In other recent news, Zurn Elkay Water Solutions Corporation reported a strong financial performance in the first quarter, exceeding expectations in key metrics such as sales and adjusted EBITDA. The company's sales increased by 400 basis points year-over-year, primarily driven by growth in non-residential markets. Adjusted EBITDA rose by 24%, with the margin expanding by 460 basis points. Following these results, Zurn Elkay raised its full-year margin outlook and confirmed plans for share repurchases.
In addition to its earnings report, Zurn Elkay announced a quarterly dividend of $0.08 per share, scheduled to be paid in cash in June to shareholders on record by May 20. This dividend declaration is part of the company's regular dividend payments to its stockholders, reflecting its ongoing efforts to deliver value to its shareholders.
These are all recent developments. The company, headquartered in Milwaukee, Wisconsin, continues to focus on growth and sustainability, setting itself apart in the water management solutions industry. It's worth noting that any forward-looking statements made by the company are subject to risks and uncertainties, and actual results may differ from those currently anticipated."
InvestingPro Insights
Zurn Elkay Water Solutions Corp (NYSE:ZWS) has recently seen significant trading activity by insiders, which often garners the attention of investors looking for signals on the stock's future performance. To provide a clearer picture, let's delve into some key metrics and insights from InvestingPro that could help investors make more informed decisions.
Firstly, ZWS boasts a perfect Piotroski Score of 9, which suggests that the company is financially strong and has healthy accounting practices. This is an important indicator for investors, as a high Piotroski Score is often associated with companies that outperform the market.
In terms of growth prospects, ZWS is expected to have an uptick in net income this year. This is corroborated by the fact that 6 analysts have revised their earnings estimates upwards for the upcoming period, indicating a bullish outlook on the company's profitability.
From a valuation perspective, ZWS is trading at a low P/E ratio relative to near-term earnings growth, with the current P/E ratio at 44.01 and an adjusted P/E ratio for the last twelve months as of Q1 2024 standing at 38.79. Moreover, the PEG Ratio for the same period is notably low at 0.4, suggesting that the stock may be undervalued considering its earnings growth rate.
For those interested in stability, ZWS is known to trade with low price volatility, which could be appealing for risk-averse investors. Additionally, the company's liquid assets exceed its short-term obligations, indicating good liquidity and financial health.
Investors looking for more insights can find additional InvestingPro Tips for ZWS by visiting InvestingPro. And for those ready to take their investment analysis to the next level, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Overall, ZWS presents a mix of strong financials and promising growth prospects. With the stock trading at a high earnings multiple and analysts predicting profitability this year, investors may want to consider these factors in their investment strategy.
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