Elie Melhem Sells 379 Shares of Watts Water Technologies (NYSE:WTS) 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 shares were sold at an average price of $300.03, for a total value of $113,711.37. Following the transaction, the insider directly owned 11,592 shares of the company’s stock, valued at $3,477,947.76. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, March 19th, Elie Melhem sold 372 shares of Watts Water Technologies stock. The stock was sold at an average price of $292.13, for a total value of $108,672.36.

Watts Water Technologies Trading Down 0.9%

NYSE:WTS opened at $293.92 on Friday. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $345.17. The firm has a market capitalization of $9.80 billion, a P/E ratio of 28.90, a P/E/G ratio of 2.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49. The business has a 50 day simple moving average of $309.45 and a 200 day simple moving average of $288.34.

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

Watts Water Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

WTS has been the topic of several recent research reports. Robert W. Baird set a $361.00 price objective on shares of Watts Water Technologies in a research report on Friday, February 13th. TD Cowen restated a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, January 8th. Barclays lifted their price target on Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. The Goldman Sachs Group boosted their price objective on Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, HSBC initiated coverage on Watts Water Technologies in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $334.11.

Hedge Funds Weigh In On Watts Water Technologies

Large investors have recently bought and sold shares of the stock. Boston Partners lifted its stake in shares of Watts Water Technologies by 2.2% in the 3rd quarter. Boston Partners now owns 907,336 shares of the technology company’s stock worth $253,211,000 after acquiring an additional 19,247 shares during the period. Geode Capital Management LLC increased its stake in shares of Watts Water Technologies by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 832,148 shares of the technology company’s stock valued at $229,721,000 after acquiring an additional 25,501 shares during the period. First Trust Advisors LP increased its stake in shares of Watts Water Technologies by 0.9% during the second quarter. First Trust Advisors LP now owns 545,724 shares of the technology company’s stock valued at $134,188,000 after acquiring an additional 4,689 shares during the period. Dimensional Fund Advisors LP raised its holdings in Watts Water Technologies by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 522,624 shares of the technology company’s stock worth $144,261,000 after purchasing an additional 1,418 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Watts Water Technologies by 34.4% in the third quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after purchasing an additional 120,090 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

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.