Elie Melhem Sells 1,735 Shares of Watts Water Technologies, Inc. (NYSE:WTS) Stock

Posted by on May 13th, 2023

Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) insider Elie Melhem sold 1,735 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $168.06, for a total value of $291,584.10. Following the sale, the insider now owns 17,890 shares of the company’s stock, valued at approximately $3,006,593.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Watts Water Technologies Stock Performance

Shares of WTS stock opened at $165.67 on Friday. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.97 and a beta of 1.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.56 and a quick ratio of 1.55. The business has a fifty day moving average of $163.75 and a 200 day moving average of $159.05. Watts Water Technologies, Inc. has a 1 year low of $116.31 and a 1 year high of $181.40.

Watts Water Technologies (NYSE:WTS – Get Rating) last issued its earnings results on Wednesday, May 3rd. The technology company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.29. The company had revenue of $471.70 million during the quarter, compared to analyst estimates of $473.29 million. Watts Water Technologies had a return on equity of 19.77% and a net margin of 13.16%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. As a group, research analysts expect that Watts Water Technologies, Inc. will post 7.16 earnings per share for the current year.

Watts Water Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.36 per share. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, May 31st. Watts Water Technologies’s dividend payout ratio (DPR) is currently 15.38%.

Analyst Ratings Changes

WTS has been the subject of a number of analyst reports. TD Cowen upped their target price on Watts Water Technologies from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, April 5th. StockNews.com lowered Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 27th. Robert W. Baird increased their price objective on Watts Water Technologies from $144.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, February 10th. Stifel Nicolaus increased their price objective on Watts Water Technologies from $145.00 to $146.00 and gave the company a “hold” rating in a report on Friday, January 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Watts Water Technologies from $174.00 to $175.00 in a report on Monday, May 8th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and an average price target of $148.57.

Institutional Investors Weigh In On Watts Water Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTS. American Century Companies Inc. grew its position in Watts Water Technologies by 12.9% during the 1st quarter. American Century Companies Inc. now owns 4,237 shares of the technology company’s stock worth $591,000 after purchasing an additional 483 shares during the period. US Bancorp DE grew its position in Watts Water Technologies by 41.6% during the 1st quarter. US Bancorp DE now owns 881 shares of the technology company’s stock worth $123,000 after purchasing an additional 259 shares during the period. Rhumbline Advisers grew its position in Watts Water Technologies by 14.8% during the 1st quarter. Rhumbline Advisers now owns 79,951 shares of the technology company’s stock worth $11,160,000 after purchasing an additional 10,288 shares during the period. Vontobel Holding Ltd. acquired a new stake in Watts Water Technologies during the 1st quarter worth about $2,395,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Watts Water Technologies during the 1st quarter worth about $14,626,000. 74.85% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Company Profile

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Watts Water Technologies, Inc engages in the manufacture and provision of products for water conservation, safety, and flow control. It operates through the following geographic segments: Americas, Europe, and Asia-Pacific, Middle East and Africa. Its services include plumbing and flow control solutions, water quality and conditioning, water reuse and drainage, heating, ventilation, and air conditioning, and municipal waterworks.

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