Watts Water Technologies (NYSE:WTS) Insider Sells $113,711.37 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) insider Elie Melhem sold 379 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $300.03, for a total transaction of $113,711.37. Following the sale, the insider directly owned 11,592 shares in the company, valued at approximately $3,477,947.76. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Watts Water Technologies Stock Down 1.5%

WTS traded down $4.59 on Wednesday, hitting $296.66. 158,231 shares of the company were exchanged, compared to its average volume of 188,940. The firm has a 50-day moving average price of $309.00 and a two-hundred day moving average price of $288.24. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $345.17. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 2.73 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business had revenue of $625.10 million during the quarter, compared to the consensus estimate of $610.40 million. During the same period in the previous year, the company posted $2.05 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.52 dividend. The ex-dividend date was Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 2.1%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 20.45%.

Institutional Trading of Watts Water Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MTM Investment Management LLC acquired a new position in Watts Water Technologies during the second quarter worth approximately $25,000. Wexford Capital LP acquired a new position in shares of Watts Water Technologies in the 3rd quarter valued at $26,000. Acumen Wealth Advisors LLC purchased a new stake in Watts Water Technologies in the 4th quarter valued at $28,000. Clearstead Advisors LLC raised its position in Watts Water Technologies by 69.4% in the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Watts Water Technologies during the 3rd quarter worth $29,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WTS. Jefferies Financial Group started coverage on Watts Water Technologies in a research report on Friday, December 12th. They set a “hold” rating and a $300.00 price objective for the company. TD Cowen reissued a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Royal Bank Of Canada boosted their target price on Watts Water Technologies from $288.00 to $337.00 and gave the stock a “sector perform” rating in a research note on Friday, February 13th. Robert W. Baird set a $361.00 price target on Watts Water Technologies in a report on Friday, February 13th. Finally, The Goldman Sachs Group increased their price target on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $334.11.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.