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 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 transaction, the insider directly owned 7,867 shares in the company, valued at $2,828,579.85. This trade represents a 12.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Watts Water Technologies Stock Down 1.6%

Shares of WTS opened at $350.54 on Friday. Watts Water Technologies, Inc. has a 52-week low of $260.00 and a 52-week high of $394.54. The company has a market capitalization of $11.70 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 3.49 and a beta of 1.13. The stock has a fifty day simple moving average of $361.03 and a two-hundred day simple moving average of $329.37. 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 (NYSE:WTS) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, beating 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 firm had revenue of $763.10 million for the quarter, compared to analysts’ expectations of $725.99 million. During the same quarter in the previous year, the company posted $3.09 EPS. The company’s revenue was up 18.6% compared to the same quarter last year. As a group, equities analysts forecast that Watts Water Technologies, Inc. will post 12.75 EPS for the current year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.63 per share. The ex-dividend date 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 dividend payout ratio (DPR) is currently 22.01%.

Analyst Ratings Changes

Several research analysts recently weighed in on WTS shares. Royal Bank Of Canada increased their price objective on Watts Water Technologies from $350.00 to $417.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Weiss Ratings raised Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, September 1st. Barclays increased their price target on Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Stifel Nicolaus boosted their price target on shares of Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, TD Cowen increased their price objective on shares of 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 research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $367.70.

Hedge Funds Weigh In On Watts Water Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wexford Capital LP acquired a new stake in shares of Watts Water Technologies during the third quarter worth about $26,000. Acumen Wealth Advisors LLC acquired a new position in shares of Watts Water Technologies in the fourth quarter valued at approximately $28,000. Clearstead Advisors LLC grew its holdings in shares of Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Watts Water Technologies during the 3rd quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Watts Water Technologies during the 4th quarter worth approximately $29,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc is a manufacturer of products and systems designed to manage the safety, efficiency, and quality of water within residential, commercial, and industrial plumbing and heating applications. Its offerings help regulate water pressure and temperature, prevent backflow and contamination, control flow, and improve water quality.

The company’s products include valves, backflow prevention devices, regulators, drainage and plumbing components, water filtration and treatment systems, electric and hydronic heating equipment, and related controls.