Watts Water Technologies (NYSE:WTS) Insider Sells $108,672.36 in Stock

Key Points

• Insider sale: Director Elie Melhem sold 372 shares on March 19 at an average price of $292.13 for a total of $108,672.36, reducing his stake to 11,220 shares (a 3.21% ownership decrease).
• Recent results and dividend: Watts topped expectations with Q earnings of $2.62 vs. est. $2.36 and revenue of $625.1M (up 15.7% YoY), and declared a monthly dividend of $0.52 (annualized yield ~2.1%, payout ratio ~20.45%).
• Market/analyst context: Shares traded down ~1.8% to $291.17 on below-average volume; consensus rating is Hold with a price target of $334.11, and the stock trades at a P/E of 28.62 (market cap ~$9.71B).

Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) insider Elie Melhem sold 372 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $292.13, for a total value of $108,672.36. Following the completion of the transaction, the insider directly owned 11,220 shares of the company's stock, valued at approximately $3,277,698.60. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Elie Melhem also recently made the following trade(s):

• 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 transaction of $113,711.37.

Watts Water Technologies Trading Down 1.8%

Shares of NYSE:WTS traded down $5.35 during midday trading on Thursday, reaching $291.17. The company's stock had a trading volume of 54,696 shares, compared to its average volume of 187,672. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23. The business has a 50 day moving average price of $309.30 and a 200 day moving average price of $288.30. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $345.17.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.26. The business had revenue of $625.10 million for the quarter, compared to analyst estimates of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business's quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. Research analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) annualized dividend and a yield of 2.1%. Watts Water Technologies's payout ratio is 20.45%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. KeyCorp boosted their target price on shares of Watts Water Technologies from $340.00 to $360.00 and gave the stock an "overweight" rating in a research report on Thursday, February 12th. Zacks Research cut Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 27th. Wells Fargo & Company set a $275.00 target price on Watts Water Technologies in a research report on Thursday, January 8th. Barclays upped their price target on Watts Water Technologies from $300.00 to $323.00 and gave the company an "equal weight" rating in a research report on Friday, February 13th. Finally, Robert W. Baird set a $361.00 price objective on shares of Watts Water Technologies in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Watts Water Technologies presently has a consensus rating of "Hold" and a consensus price target of $334.11.

Hedge Funds Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Beacon Harbor Wealth Advisors Inc. purchased a new position in Watts Water Technologies during the 3rd quarter worth approximately $6,444,000. Allianz Asset Management GmbH boosted its position in shares of Watts Water Technologies by 17.7% in the third quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company's stock worth $50,375,000 after buying an additional 27,093 shares during the period. AE Wealth Management LLC grew its holdings in shares of Watts Water Technologies by 10.9% during the third quarter. AE Wealth Management LLC now owns 138,293 shares of the technology company's stock valued at $38,622,000 after buying an additional 13,642 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Watts Water Technologies during the third quarter valued at $6,308,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Watts Water Technologies by 80.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,978 shares of the technology company's stock worth $1,949,000 after acquiring an additional 3,101 shares in the last quarter. 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.

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