Watts Water Technologies (NYSE:WTS) Insider Elie Melhem Sells 2,257 Shares

Watts Water Technologies, Inc. (NYSE:WTS) insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider owned 8,963 shares in the company, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Elie Melhem also recently made the following trade(s):

• On Thursday, March 19th, Elie Melhem sold 372 shares of Watts Water Technologies stock. The shares were sold at an average price of $292.13, for a total value of $108,672.36.
• On Wednesday, March 18th, Elie Melhem sold 379 shares of Watts Water Technologies stock. The shares were sold at an average price of $300.03, for a total transaction of $113,711.37.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock opened at $299.39 on Thursday. The company has a 50 day moving average price of $299.22 and a 200 day moving average price of $293.21. The firm has a market capitalization of $9.98 billion, a P/E ratio of 27.39, a PEG ratio of 2.66 and a beta of 1.20. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. Watts Water Technologies, Inc. has a 52 week low of $235.14 and a 52 week high of $345.17.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.32. The company had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. Watts Water Technologies’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.37 EPS. Sell-side analysts expect that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Watts Water Technologies’s payout ratio is currently 19.03%.

Hedge Funds Weigh In On Watts Water Technologies

Large investors have recently made changes to their positions in the company. Sei Investments Co. raised its position in Watts Water Technologies by 14.6% during the first quarter. Sei Investments Co. now owns 60,651 shares of the technology company’s stock worth $17,605,000 after acquiring an additional 7,734 shares during the period. Walleye Capital LLC grew its holdings in shares of Watts Water Technologies by 12.0% during the first quarter. Walleye Capital LLC now owns 71,800 shares of the technology company’s stock worth $20,843,000 after buying an additional 7,719 shares in the last quarter. State of Wyoming grew its holdings in shares of Watts Water Technologies by 12.0% during the first quarter. State of Wyoming now owns 935 shares of the technology company’s stock worth $271,000 after buying an additional 100 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Watts Water Technologies by 2.9% during the first quarter. Cetera Investment Advisers now owns 1,818 shares of the technology company’s stock worth $528,000 after buying an additional 52 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Watts Water Technologies by 6.7% during the first quarter. First Trust Advisors LP now owns 545,404 shares of the technology company’s stock worth $158,325,000 after buying an additional 34,381 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on WTS shares. Royal Bank Of Canada boosted their target price on shares of Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. The Goldman Sachs Group lifted their price objective 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. Weiss Ratings cut shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. KeyCorp lifted their price objective on shares of Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Finally, Barclays decreased their price objective on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating for the company in a research note on Monday. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $329.44.

Watts Water Technologies Company Profile

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.