Elie Melhem Sells 6,143 Shares of Watts Water Technologies Inc. (WTS) Stock
Watts Water Technologies Inc. (NYSE:WTS) insider Elie Melhem sold 6,143 shares of Watts Water Technologies stock in a transaction on Friday, November 11th. The stock was sold at an average price of $67.78, for a total transaction of $416,372.54. Following the transaction, the insider now directly owns 32,464 shares of the company’s stock, valued at $2,200,409.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Watts Water Technologies Inc. (NYSE:WTS) opened at 68.40 on Wednesday. The company’s market capitalization is $2.34 billion. The company has a 50 day moving average price of $62.78 and a 200 day moving average price of $60.85. Watts Water Technologies Inc. has a 12-month low of $44.51 and a 12-month high of $68.70.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Watts Water Technologies had a positive return on equity of 12.41% and a negative net margin of 3.64%. The firm earned $341 million during the quarter, compared to the consensus estimate of $352.64 million. During the same period in the prior year, the company earned $0.67 EPS. The firm’s revenue was down 6.9% compared to the same quarter last year. Equities analysts anticipate that Watts Water Technologies Inc. will post $2.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, November 30th. Watts Water Technologies’s dividend payout ratio is currently -48.65%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. purchased a new position in Watts Water Technologies during the second quarter valued at approximately $100,000. Tower Research Capital LLC TRC increased its stake in shares of Watts Water Technologies by 1,543.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,808 shares of the company’s stock worth $105,000 after buying an additional 1,698 shares during the period. Bank of Montreal Can bought a new stake in shares of Watts Water Technologies during the second quarter worth about $118,000. Public Employees Retirement System of Ohio increased its stake in shares of Watts Water Technologies by 2.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,203 shares of the company’s stock worth $128,000 after buying an additional 45 shares during the period. Finally, BlackRock Japan Co. Ltd bought a new stake in shares of Watts Water Technologies during the third quarter worth about $144,000. 83.17% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on WTS. Zacks Investment Research lowered shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Janney Montgomery Scott began coverage on shares of Watts Water Technologies in a research note on Friday, September 16th. They set a “neutral” rating and a $63.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Watts Water Technologies has a consensus rating of “Hold” and a consensus price target of $61.40.
About Watts Water Technologies
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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