Elie Melhem Sells 2,051 Shares of Watts Water Technologies, Inc. (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) insider Elie Melhem sold 2,051 shares of Watts Water Technologies stock in a transaction on Monday, May 20th. The stock was sold at an average price of $215.51, for a total value of $442,011.01. Following the sale, the insider now directly owns 13,226 shares of the company’s stock, valued at $2,850,335.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Watts Water Technologies Trading Down 0.9 %

NYSE WTS opened at $213.68 on Thursday. Watts Water Technologies, Inc. has a one year low of $156.85 and a one year high of $219.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 1.44. The firm has a market cap of $7.12 billion, a P/E ratio of 26.51, a P/E/G ratio of 3.14 and a beta of 0.95. The stock’s 50-day moving average is $207.05 and its 200-day moving average is $202.48.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 8th. The technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.11 by $0.22. The firm had revenue of $570.90 million for the quarter, compared to the consensus estimate of $547.20 million. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the company posted $1.92 EPS. Sell-side analysts anticipate that Watts Water Technologies, Inc. will post 8.57 earnings per share for the current fiscal year.

Watts Water Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.36. This represents a $1.72 dividend on an annualized basis and a yield of 0.80%. Watts Water Technologies’s dividend payout ratio is presently 17.87%.

Institutional Trading of Watts Water Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of Watts Water Technologies during the first quarter worth about $26,000. Contravisory Investment Management Inc. acquired a new position in Watts Water Technologies during the 4th quarter worth approximately $26,000. Allworth Financial LP grew its stake in shares of Watts Water Technologies by 47.5% during the 4th quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock worth $36,000 after acquiring an additional 56 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Watts Water Technologies in the fourth quarter valued at approximately $39,000. Finally, AdvisorNet Financial Inc lifted its position in shares of Watts Water Technologies by 2,857.1% in the fourth quarter. AdvisorNet Financial Inc now owns 207 shares of the technology company’s stock worth $43,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus boosted their target price on Watts Water Technologies from $206.00 to $209.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Robert W. Baird upped their target price on shares of Watts Water Technologies from $212.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $199.50.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.