Key Points
- Insider sale: Elie Melhem sold 1,096 Watts Water Technologies shares for approximately $394,067, reducing his ownership by 12.23% to 7,867 shares.
- Strong quarterly results: The company reported quarterly EPS of $3.66, beating estimates by $0.32, while revenue increased 18.6% year over year to $763.1 million.
- Mixed but generally favorable outlook: Analysts maintain a consensus “Hold” rating with an average price target of $367.70, while the company announced a $0.63 quarterly dividend yielding about 0.7%.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) insider Elie Melhem sold 1,096 shares of Watts Water Technologies stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the transaction, the insider owned 7,867 shares in the company, valued at approximately $2,828,579.85. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Watts Water Technologies Stock Down 0.8%
Shares of Watts Water Technologies stock opened at $360.21 on Wednesday. The company has a market capitalization of $12.02 billion, a P/E ratio of 31.46, a price-to-earnings-growth ratio of 3.56 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. The business has a 50-day moving average of $361.89 and a two-hundred day moving average of $329.00. Watts Water Technologies, Inc. has a 1 year low of $260.00 and a 1 year high of $394.54.
Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The business had revenue of $763.10 million for the quarter, compared to analysts' expectations of $725.99 million. During the same quarter in the previous year, the business posted $3.09 EPS. Watts Water Technologies's revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities analysts predict that Watts Water Technologies, Inc. will post 12.75 EPS for the current year.
Watts Water Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Watts Water Technologies's dividend payout ratio (DPR) is 22.01%.
Hedge Funds Weigh In On Watts Water Technologies
Several hedge funds have recently made changes to their positions in WTS. Wexford Capital LP acquired a new stake in shares of Watts Water Technologies in the third quarter valued at approximately $26,000. Acumen Wealth Advisors LLC bought a new position in Watts Water Technologies in the fourth quarter valued at $28,000. Clearstead Advisors LLC grew its position in Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company's stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Watts Water Technologies in the 3rd quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Watts Water Technologies in the 4th quarter valued at $29,000. 95.02% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on WTS shares. TD Cowen upped their price target on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a "hold" rating in a report on Thursday, July 2nd. Royal Bank Of Canada boosted their price objective on shares of Watts Water Technologies from $350.00 to $417.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $374.00 target price on shares of Watts Water Technologies in a research note on Friday, August 7th. KeyCorp increased their target price on Watts Water Technologies from $380.00 to $400.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Stifel Nicolaus lifted their price target on Watts Water Technologies from $379.00 to $403.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $367.70.
Check Out Our Latest Stock Analysis on WTS
About Watts Water Technologies
(
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.
Further Reading
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