Watts Water Technologies, Inc. (NYSE:WTS) Insider Sells $442,011.01 in 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 shares were sold at an average price of $215.51, for a total transaction of $442,011.01. Following the completion of the sale, the insider now owns 13,226 shares of the company’s stock, valued at approximately $2,850,335.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Watts Water Technologies Stock Performance

Shares of WTS opened at $213.68 on Thursday. The firm has a market capitalization 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. Watts Water Technologies, Inc. has a 52 week low of $156.85 and a 52 week high of $219.52. The stock has a 50 day moving average price of $207.05 and a two-hundred day moving average price of $202.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.48.

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

Watts Water Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.43 dividend. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, May 31st. This represents a $1.72 annualized dividend and a yield of 0.80%. Watts Water Technologies’s dividend payout ratio (DPR) is 17.87%.

Hedge Funds Weigh In On Watts Water Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP increased its position in shares of Watts Water Technologies by 47.5% during the fourth quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock valued at $36,000 after acquiring an additional 56 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Watts Water Technologies by 3.2% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,025 shares of the technology company’s stock valued at $350,000 after purchasing an additional 62 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Watts Water Technologies by 3.4% during the 4th quarter. QRG Capital Management Inc. now owns 2,013 shares of the technology company’s stock worth $419,000 after purchasing an additional 66 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Watts Water Technologies by 4.2% in the 1st quarter. Park Avenue Securities LLC now owns 1,645 shares of the technology company’s stock worth $350,000 after buying an additional 67 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC grew its position in Watts Water Technologies by 6.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,404 shares of the technology company’s stock valued at $243,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Analysts Set New Price Targets

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

Watts Water Technologies Company Profile

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.