Impax Asset Management Discloses 5.5% Stake in Zurn Elkay Water Solutions
Ticker: ZWS · Form: SC 13G · Filed: Jan 18, 2024 · CIK: 1439288
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**Impax Asset Management just bought 5.5% of Zurn Elkay, signaling a bullish long-term view.**
AI Summary
Impax Asset Management Group plc, a London-based investment firm, has reported a significant stake in Zurn Elkay Water Solutions Corp (Zurn Elkay), a Milwaukee-based industrial machinery company. As of December 29, 2023, Impax Asset Management Group plc holds 10,000,000 shares of Zurn Elkay's Common Stock, representing 5.5% of the company. This filing indicates Impax's passive investment, signaling confidence in Zurn Elkay's long-term prospects without seeking to influence management.
Why It Matters
This matters because a major institutional investor like Impax Asset Management Group plc has taken a substantial position, which can be seen as a vote of confidence in Zurn Elkay's future performance and stability.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large asset manager, which generally reduces volatility and signals institutional confidence rather than immediate risk.
Analyst Insight
A smart investor would view this as a positive signal, suggesting Zurn Elkay is a stable investment, and might consider researching the company's fundamentals further to align with Impax's long-term passive investment strategy.
Key Numbers
- 10,000,000 — Shares Owned (The total number of Zurn Elkay Water Solutions Corp Common Stock shares beneficially owned by Impax Asset Management Group plc.)
- 5.5% — Ownership Percentage (The percentage of Zurn Elkay Water Solutions Corp's Common Stock owned by Impax Asset Management Group plc, indicating a significant stake.)
Key Players & Entities
- Impax Asset Management Group plc (company) — the reporting person and institutional investor
- Zurn Elkay Water Solutions Corp (company) — the subject company in which shares were acquired
- 10,000,000 (dollar_amount) — number of shares of Common Stock beneficially owned
- 5.5% (dollar_amount) — percentage of class beneficially owned
- December 29, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- Zurn Elkay Water Solutions Corp's stock price will experience increased stability due to institutional backing. (Zurn Elkay Water Solutions Corp) — medium confidence, target: 6-12 months
- Impax Asset Management Group plc will maintain its passive investment in Zurn Elkay Water Solutions Corp. (Impax Asset Management Group plc) — high confidence, target: 12-24 months
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is Impax Asset Management Group plc, located at 7th Floor, 30 Panton Street, London, SW1Y 4AJ.
What is the subject company whose shares are being reported?
The subject company is Zurn Elkay Water Solutions Corp, with its business address at 511 West Freshwater Way, Milwaukee, WI 53204.
What type of securities did Impax Asset Management Group plc acquire?
Impax Asset Management Group plc acquired Common Stock of Zurn Elkay Water Solutions Corp, identified by CUSIP Number 98983L108.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 29, 2023.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 18, 2024 regarding Zurn Elkay Water Solutions Corp (ZWS).