Watts Water Technologies, Inc. (NYSE:WTS – Get Free Report) insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider directly owned 8,963 shares of the company’s stock, valued at $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $292.13, for a total value 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 value of $113,711.37.
Watts Water Technologies Stock Up 0.2%
Watts Water Technologies stock opened at $300.60 on Friday. Watts Water Technologies, Inc. has a fifty-two week low of $235.14 and a fifty-two week high of $345.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The company has a market capitalization of $10.02 billion, a P/E ratio of 27.50, a PEG ratio of 2.66 and a beta of 1.20. The stock has a 50-day simple moving average of $298.82 and a 200-day simple moving average of $293.36.
Watts Water Technologies Dividend Announcement
The company also recently declared 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. The ex-dividend date is Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. Watts Water Technologies’s dividend payout ratio is currently 19.03%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Zacks Research lowered Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $358.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Royal Bank Of Canada raised their price objective on Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Wall Street Zen lowered Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Stifel Nicolaus set a $379.00 target price on Watts Water Technologies in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Watts Water Technologies has an average rating of “Hold” and an average target price of $329.44.
Check Out Our Latest Research Report on WTS
Institutional Investors Weigh In On Watts Water Technologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Beacon Harbor Wealth Advisors Inc. bought a new position in shares of Watts Water Technologies in the third quarter valued at $6,444,000. Allianz Asset Management GmbH grew its holdings in shares of Watts Water Technologies by 17.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company’s stock valued at $50,375,000 after acquiring an additional 27,093 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Watts Water Technologies during the 3rd quarter valued at $6,308,000. Clark Capital Management Group Inc. grew its holdings in shares of Watts Water Technologies by 17.4% during the 3rd quarter. Clark Capital Management Group Inc. now owns 27,985 shares of the technology company’s stock valued at $7,816,000 after acquiring an additional 4,140 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Watts Water Technologies by 80.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,978 shares of the technology company’s stock worth $1,949,000 after purchasing an additional 3,101 shares in the last quarter. Institutional investors own 95.02% of the company’s stock.
Watts Water Technologies Company Profile
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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