Watts Water Technologies (NYSE:WTS) Insider Elie Melhem Sells 1,096 Shares

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 completion of the transaction, the insider directly owned 7,867 shares in the company, valued at $2,828,579.85. The trade was a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Watts Water Technologies Trading Down 0.8%

WTS stock opened at $360.21 on Wednesday. The business has a fifty day moving average price of $361.89 and a 200 day moving average price of $329.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. Watts Water Technologies, Inc. has a fifty-two week low of $260.00 and a fifty-two week high of $394.54. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 3.56 and a beta of 1.13.

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

Watts Water Technologies Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s payout ratio is currently 22.01%.

Analyst Ratings Changes

WTS has been the topic of several research analyst reports. Barclays increased their price target on shares of Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Stifel Nicolaus upped their price objective on Watts Water Technologies from $379.00 to $403.00 and gave the stock a “buy” rating in a report on Monday, July 20th. KeyCorp increased their price objective on Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada lifted their target price on Watts Water Technologies from $350.00 to $417.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Finally, TD Cowen boosted their target price on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $367.70.

Hedge Funds Weigh In On Watts Water Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Watts Water Technologies by 37,958.7% in the 2nd quarter. California State Teachers Retirement System now owns 12,479,817 shares of the technology company’s stock valued at $4,885,224,000 after acquiring an additional 12,447,026 shares during the period. Norges Bank acquired a new position in Watts Water Technologies during the fourth quarter valued at approximately $100,627,000. AQR Capital Management LLC increased its stake in Watts Water Technologies by 148.3% in the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after purchasing an additional 165,837 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Watts Water Technologies by 20,071.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock valued at $40,989,000 after purchasing an additional 140,500 shares in the last quarter. Finally, UBS Group AG raised its holdings 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 worth $56,484,000 after purchasing an additional 139,637 shares during the period. Institutional investors own 95.02% of the company’s stock.

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.