Watts Water Technologies Inc (NYSE:WTS) insider Elie Melhem sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $74.42, for a total value of $74,420.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of WTS traded down $0.27 during midday trading on Wednesday, hitting $73.11. The stock had a trading volume of 59,300 shares, compared to its average volume of 118,629. Watts Water Technologies Inc has a twelve month low of $67.29 and a twelve month high of $93.35. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 1.80 and a beta of 1.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.24 and a quick ratio of 1.33.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Friday, November 2nd. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.04. Watts Water Technologies had a return on equity of 14.43% and a net margin of 6.05%. The firm had revenue of $390.90 million for the quarter, compared to the consensus estimate of $380.00 million. During the same quarter last year, the business posted $0.80 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts anticipate that Watts Water Technologies Inc will post 3.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, November 29th. Watts Water Technologies’s dividend payout ratio is 27.81%.
WTS has been the topic of several research analyst reports. Northcoast Research reaffirmed a “buy” rating and set a $105.00 price objective on shares of Watts Water Technologies in a research note on Friday, August 3rd. Stifel Nicolaus raised their price objective on Watts Water Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Monday, November 5th. Oppenheimer reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Sunday, November 4th. Finally, Zacks Investment Research downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 13th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $90.80.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Watts Water Technologies in the 2nd quarter valued at about $102,000. Fort L.P. acquired a new stake in shares of Watts Water Technologies in the 2nd quarter valued at about $108,000. Compton Capital Management Inc. RI acquired a new stake in shares of Watts Water Technologies in the 3rd quarter valued at about $203,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Watts Water Technologies in the 2nd quarter valued at about $212,000. Finally, Hartford Investment Management Co. acquired a new stake in shares of Watts Water Technologies in the 2nd quarter valued at about $222,000. 76.05% of the stock is currently owned by hedge funds and other institutional investors.
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About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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