Key Points
- Insider selling: Watts Water Technologies insider Elie Melhem sold 2,257 shares on May 13 at an average price of $301, totaling about $679,357. After the sale, he still owned 8,963 shares, a 20.12% reduction in his position.
- Strong quarterly results: The company reported earnings of $3.04 per share, beating estimates of $2.72, on revenue of $677.3 million versus expectations of $638.13 million. Revenue rose 21.4% year over year.
- Dividend and analyst view: Watts Water Technologies declared a quarterly dividend of $0.63 per share, payable June 15, and the stock currently has a consensus analyst rating of Hold with an average price target of $329.44.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) insider Elie Melhem sold 2,257 shares of the company's 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 transaction, the insider directly owned 8,963 shares of the company's stock, valued at $2,697,863. This represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
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 stock was 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 $300.60 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $10.02 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 2.66 and a beta of 1.20. Watts Water Technologies, Inc. has a 12-month low of $235.14 and a 12-month high of $345.17. The firm has a 50-day moving average price of $298.82 and a 200 day moving average price of $293.36.
Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $638.13 million. During the same period in the prior year, the firm earned $2.37 earnings per share. The company's quarterly revenue was up 21.4% compared to the same quarter last year. Research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 1st. Watts Water Technologies's dividend payout ratio is currently 19.03%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Barclays dropped their price objective on shares of Watts Water Technologies from $323.00 to $317.00 and set an "equal weight" rating on the stock in a report on Monday. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Zacks Research downgraded shares of Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $358.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Watts Water Technologies from $267.00 to $323.00 and gave the stock a "neutral" rating in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $329.44.
Check Out Our Latest Stock Report on Watts Water Technologies
Hedge Funds Weigh In On Watts Water Technologies
A number of institutional investors have recently added to or reduced their stakes in WTS. Norges Bank acquired a new position in Watts Water Technologies in the 4th quarter valued at approximately $100,627,000. Cartenna Capital LP bought a new stake in shares of Watts Water Technologies in the 3rd quarter valued at $47,478,000. AQR Capital Management LLC boosted its stake in shares of Watts Water Technologies by 148.3% in the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company's stock valued at $68,276,000 after purchasing an additional 165,837 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Watts Water Technologies by 20,071.4% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company's stock worth $40,989,000 after acquiring an additional 140,500 shares in the last quarter. Finally, UBS Group AG boosted its stake in Watts Water Technologies by 223.0% during the third quarter. UBS Group AG now owns 202,250 shares of the technology company's stock worth $56,484,000 after acquiring an additional 139,637 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.
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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