Watts Water Technologies Inc (WTS) Chief Accounting Officer Sells Company Shares
Watts Water Technologies Inc (NYSE:WTS), a global provider of innovative water solutions for residential, industrial, municipal, and commercial settings, has reported an insider sale according to a recent SEC filing. Chief Accounting Officer Virginia Halloran sold 1,407 shares of the company on March 15, 2024.Virginia Hallorans transaction involved the sale of shares at a price of $202.82 each, resulting in a total transaction value of $285,369.74. Following this transaction, the insider's activity over the past year includes the sale of 2,927 shares and no recorded purchases of the company's stock.The insider transaction history at Watts Water Technologies Inc (NYSE:WTS) indicates a pattern of insider sales, with 16 recorded over the past year and no insider buys during the same period.
On the valuation front, Watts Water Technologies Inc (NYSE:WTS) shares were trading at $202.82 on the day of the sale, giving the company a market capitalization of $6.700 billion. The price-earnings ratio stands at 25.73, which is above the industry median of 22.52 but below the company's historical median price-earnings ratio.The stock's price relative to the GuruFocus Value (GF Value) indicates that Watts Water Technologies Inc (NYSE:WTS) is modestly overvalued. With a share price of $202.82 and a GF Value of $181.96, the price-to-GF-Value ratio is 1.11.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.For investors monitoring insider activities as an indicator of corporate confidence and direction, the recent sale by Chief Accounting Officer Virginia Halloran may provide insights into the current sentiment within Watts Water Technologies Inc (NYSE:WTS). However, it is important to consider the broader context of the market and the company's performance when evaluating the significance of insider transactions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
