Insider Selling: Watts Water Technologies (NYSE:WTS) Insider Sells $394,066.80 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) insider Elie Melhem sold 1,096 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the sale, the insider owned 7,867 shares of the company’s stock, valued at approximately $2,828,579.85. The trade was a 12.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Watts Water Technologies Stock Down 0.3%

Watts Water Technologies stock traded down $0.97 during mid-day trading on Tuesday, hitting $362.16. The company had a trading volume of 16,611 shares, compared to its average volume of 268,015. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. Watts Water Technologies, Inc. has a 1 year low of $260.00 and a 1 year high of $394.54. The business has a fifty day moving average of $362.53 and a 200 day moving average of $328.79. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 3.56 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business had revenue of $763.10 million during the quarter, compared to the consensus estimate of $725.99 million. During the same quarter in the previous year, the firm earned $3.09 EPS. The company’s revenue was up 18.6% compared to the same quarter last year. On average, sell-side analysts expect that Watts Water Technologies, Inc. will post 12.75 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Watts Water Technologies’s dividend payout ratio is currently 22.01%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WTS shares. Barclays boosted their target price on Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, August 7th. TD Cowen boosted their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Stifel Nicolaus increased their price objective on Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a report on Monday, July 20th. Robert W. Baird set a $405.00 target price on shares of Watts Water Technologies in a report on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $374.00 price target on shares of Watts Water Technologies in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $367.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC lifted its holdings in shares of Watts Water Technologies by 10.2% during the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after purchasing an additional 174 shares during the period. Jones Financial Companies Lllp increased its stake in Watts Water Technologies by 80.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock valued at $222,000 after buying an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after buying an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Watts Water Technologies in the 2nd quarter worth $219,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Watts Water Technologies by 43.2% in the second quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock valued at $426,000 after acquiring an additional 523 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

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.