Insider Selling: Watts Water Technologies (NYSE:WTS) Insider Sells $679,357.00 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction that occurred 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 directly owned 8,963 shares in the company, valued at $2,697,863. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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.
• 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 value of $113,711.37.

Watts Water Technologies Stock Down 1.8%

NYSE:WTS opened at $296.06 on Friday. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 2.64 and a beta of 1.20. Watts Water Technologies, Inc. has a twelve month low of $235.14 and a twelve month high of $345.17. The stock’s 50 day moving average price is $298.35 and its two-hundred day moving average price is $293.38. 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 (NYSE:WTS) last posted its quarterly 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 firm had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.37 EPS. Equities research analysts expect that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.9%. Watts Water Technologies’s payout ratio is 19.03%.

Analysts Set New Price Targets

WTS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $379.00 target price on Watts Water Technologies in a research note on Friday, May 8th. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, The Goldman Sachs Group lifted their target price on Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies presently has an average rating of “Hold” and a consensus target price of $329.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WTS. Wexford Capital LP bought a new position in shares of Watts Water Technologies during the 3rd quarter worth approximately $26,000. Acumen Wealth Advisors LLC bought a new position in shares of Watts Water Technologies during the 4th quarter worth approximately $28,000. Clearstead Advisors LLC boosted its stake 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 period. Advisory Services Network LLC bought a new stake in Watts Water Technologies in the 3rd quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Watts Water Technologies in the 4th quarter valued at $29,000. 95.02% of the stock is currently owned by institutional investors.

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.