Elie Melhem Sells 2,257 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) insider Elie Melhem sold 2,257 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the transaction, the insider directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $292.13, for a total transaction of $108,672.36.
• On Wednesday, March 18th, Elie Melhem sold 379 shares of Watts Water Technologies stock. The shares were sold at an average price of $300.03, for a total transaction of $113,711.37.

Watts Water Technologies Stock Performance

NYSE:WTS opened at $296.06 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $298.35 and a two-hundred day moving average price of $293.38. Watts Water Technologies, Inc. has a twelve month low of $235.14 and a twelve month high of $345.17. The company has a market capitalization of $9.89 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 2.68 and a beta of 1.20.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same period last year, the firm posted $2.37 EPS. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, research analysts expect that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is 19.03%.

Institutional Investors Weigh In On Watts Water Technologies

Several hedge funds have recently modified their holdings of WTS. Wexford Capital LP acquired a new stake in shares of Watts Water Technologies in the third quarter worth approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Watts Water Technologies in the fourth quarter worth approximately $28,000. Clearstead Advisors LLC boosted its position 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 worth $29,000 after acquiring an additional 43 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Watts Water Technologies in the third quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Watts Water Technologies in the fourth quarter worth approximately $29,000. 95.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on WTS. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. The Goldman Sachs Group raised their price target on shares of Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. HSBC started coverage on shares of Watts Water Technologies in a research note on Tuesday, January 27th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $358.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $329.44.

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.