Key Points
- Elie Melhem, a Watts Water insider, sold 372 shares on March 19 at an average price of $292.13 (about $108,672) and had sold 379 shares on March 18 at $300.03, leaving him with 11,220 shares — a 3.21% reduction in ownership.
- Watts recently beat expectations, reporting $2.62 EPS versus $2.36 expected and revenue of $625.1M (up 15.7% year‑over‑year, above the $610.4M estimate).
- The company pays a monthly dividend of $0.52 (annualized yield ~2.1%, payout ratio 20.45%) and carries a Wall Street consensus of Hold with an average price target of $334.11.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) insider Elie Melhem sold 372 shares of the firm'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 sale, the insider directly owned 11,220 shares of the company's stock, valued at $3,277,698.60. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $300.03, for a total transaction of $113,711.37.
Watts Water Technologies Trading Down 0.2%
Shares of WTS opened at $292.67 on Friday. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $345.17. The firm has a market capitalization of $9.76 billion, a P/E ratio of 28.78, a P/E/G ratio of 2.69 and a beta of 1.23. The firm has a 50-day moving average price of $309.45 and a 200 day moving average price of $288.34. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10.
Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The company had revenue of $625.10 million for the quarter, compared to analyst estimates of $610.40 million. During the same period in the previous year, the business posted $2.05 EPS. Watts Water Technologies's revenue was up 15.7% on a year-over-year basis. Sell-side 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. Stockholders of record on Friday, February 27th were given a dividend of $0.52 per share. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, February 27th. Watts Water Technologies's payout ratio is presently 20.45%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its holdings in Watts Water Technologies by 94.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 867 shares of the technology company's stock valued at $239,000 after buying an additional 422 shares during the last quarter. Groupama Asset Managment increased its position in Watts Water Technologies by 14.9% during the fourth quarter. Groupama Asset Managment now owns 76,674 shares of the technology company's stock worth $21,164,000 after buying an additional 9,934 shares during the period. Pacer Advisors Inc. raised its position in Watts Water Technologies by 124.4% in the 4th quarter. Pacer Advisors Inc. now owns 8,174 shares of the technology company's stock valued at $2,256,000 after purchasing an additional 4,531 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Watts Water Technologies by 36.1% in the fourth quarter. Corient Private Wealth LLC now owns 6,140 shares of the technology company's stock valued at $1,695,000 after buying an additional 1,627 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in Watts Water Technologies by 16.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,896 shares of the technology company's stock worth $799,000 after acquiring an additional 407 shares during the period. 95.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on WTS shares. KeyCorp raised their target price on Watts Water Technologies from $340.00 to $360.00 and gave the stock an "overweight" rating in a research note on Thursday, February 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of Watts Water Technologies in a report on Monday, December 29th. TD Cowen reissued a "hold" rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $339.00 price objective on shares of Watts Water Technologies in a report on Friday, February 13th. Finally, Robert W. Baird set a $361.00 target price on shares of Watts Water Technologies in a research note on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $334.11.
Read Our Latest Stock Analysis on WTS
Watts Water Technologies Company Profile
(
Get Free Report)
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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