Elie Melhem Sells 372 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) insider Elie Melhem sold 372 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $292.13, for a total transaction of $108,672.36. Following the completion of the transaction, the insider directly owned 11,220 shares in the company, valued at approximately $3,277,698.60. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, March 18th, Elie Melhem sold 379 shares of Watts Water Technologies stock. The stock was sold at an average price of $300.03, for a total transaction of $113,711.37.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $289.56 on Friday. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.66 and a beta of 1.23. 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 12 month low of $177.59 and a 12 month high of $345.17. The stock’s 50 day moving average is $309.49 and its 200-day moving average is $288.43.

Watts Water Technologies (NYSE:WTS) last released its quarterly 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. 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 analysts’ expectations of $610.40 million. During the same period last year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.52 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 27th. Watts Water Technologies’s payout ratio is presently 20.45%.

Institutional Investors Weigh In On Watts Water Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in WTS. Norges Bank bought a new position in shares of Watts Water Technologies in the 4th quarter valued at $100,627,000. Cartenna Capital LP acquired a new position in shares of Watts Water Technologies during the 3rd quarter worth $47,478,000. AQR Capital Management LLC lifted its position in shares of Watts Water Technologies by 148.3% during the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock worth $68,276,000 after buying an additional 165,837 shares during the last quarter. UBS Group AG boosted its stake in Watts Water Technologies by 223.0% in the third quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock valued at $56,484,000 after buying an additional 139,637 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Watts Water Technologies by 79.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company’s stock valued at $78,067,000 after buying an additional 125,218 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WTS has been the subject of a number of recent research reports. HSBC initiated coverage on shares of Watts Water Technologies in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $339.00 price target on shares of Watts Water Technologies in a research note on Friday, February 13th. Barclays lifted their price objective 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. Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Finally, TD Cowen restated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $334.11.

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.