An insider at Zurn Elkay Water Solutions Corp (NYSE:ZWS) has recently sold a significant amount of company stock, totaling approximately $8.02 million. The transactions occurred over several days, with prices ranging from $31.96 to $32.24 per share.
The SEC filings indicate that the sales were executed in multiple transactions at varying prices. On April 5, 2024, 50,172 shares were sold at an average price of $32.18. Following this, on April 8, 49,828 shares were sold at an average price of $32.07. The sales continued with 1,223 shares on April 11 at an average price of $32.20, 45,009 shares on April 12 at an average price of $32.24, and a larger transaction on April 15 involving 103,768 shares at an average price of $31.96.
The insider associated with these sales is reported to be April Jalazo, who holds a significant ownership stake in the company. The shares sold were held indirectly through entities where Jalazo has a voting committee seat and is deemed to have beneficial ownership. It should be noted that Jalazo has disclaimed beneficial interest in these shares except to the extent of her pecuniary interest.
Zurn Elkay Water Solutions Corp, which trades under the ticker ZWS, is a company specializing in water solutions and is known for its industrial machinery and equipment. The transactions reported in the SEC filing show a notable movement of stock by a key figure within the company, which may be of interest to investors and market watchers.
For further details on the transactions, including the number of shares sold at each separate price within the reported ranges, the reporting person has agreed to provide full information upon request to Zurn Elkay Water Solutions Corp, any security holder, or the staff of the Securities and Exchange Commission.
InvestingPro Insights
Amid recent insider transactions at Zurn Elkay Water Solutions Corp (NYSE:ZWS), investors may find the latest data from InvestingPro to be of particular interest. With a market capitalization of $5.47 billion, ZWS's financial health and growth prospects can provide a broader context to the insider sales.
InvestingPro data indicates that ZWS has a P/E ratio of 48.84, which has adjusted to 44.11 when considering the last twelve months as of Q4 2023. This suggests that while the company trades at a significant earnings multiple, it is at a lower P/E ratio relative to its near-term earnings growth, which is an InvestingPro Tip to consider when evaluating the stock's valuation.
Another noteworthy metric is the company's revenue growth, which has been robust at 19.4% over the last twelve months as of Q4 2023. This growth is coupled with a strong return over the last year, reflected in the 51.29% one-year price total return as of the date of the report.
For investors seeking more comprehensive analysis, there are additional InvestingPro Tips available that delve into aspects such as ZWS's liquidity, debt levels, and profitability forecasts. In fact, analysts predict that the company will be profitable this year, which aligns with the company's positive net income growth expectation, and its liquid assets exceed short-term obligations. These insights, among others, can be accessed through the InvestingPro platform.
To gain full access to these valuable insights and more, investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With several additional InvestingPro Tips listed, including the company's moderate level of debt and profitability over the last twelve months, the platform offers a comprehensive toolkit for informed investment decisions.
As ZWS approaches its next earnings date on April 23, 2024, these metrics and tips from InvestingPro could prove essential for investors looking to understand the potential impact of insider transactions on the company's stock performance.
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