Watts Water Technologies Inc (NYSE:WTS) major shareholder Timothy P. Horne sold 13,481 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $79.52, for a total value of $1,072,009.12. Following the completion of the sale, the insider now owns 12,500 shares of the company’s stock, valued at $994,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Watts Water Technologies stock opened at $78.87 on Friday. Watts Water Technologies Inc has a 52 week low of $61.17 and a 52 week high of $93.35. The firm has a market capitalization of $2.68 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Thursday, February 7th. The technology company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. Watts Water Technologies had a return on equity of 14.71% and a net margin of 7.97%. The business had revenue of $387.60 million for the quarter, compared to analyst estimates of $382.33 million. During the same quarter in the prior year, the company posted $0.74 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts forecast that Watts Water Technologies Inc will post 4.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, February 28th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 22.46%.
Institutional investors have recently made changes to their positions in the company. NJ State Employees Deferred Compensation Plan lifted its stake in shares of Watts Water Technologies by 20.0% in the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 6,000 shares of the technology company’s stock valued at $387,000 after purchasing an additional 1,000 shares during the last quarter. Vanguard Group Inc lifted its stake in Watts Water Technologies by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 2,767,832 shares of the technology company’s stock worth $229,730,000 after acquiring an additional 45,313 shares in the last quarter. Vanguard Group Inc. lifted its stake in Watts Water Technologies by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,767,832 shares of the technology company’s stock worth $229,730,000 after acquiring an additional 45,313 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Watts Water Technologies by 19.1% during the 3rd quarter. King Luther Capital Management Corp now owns 34,455 shares of the technology company’s stock worth $2,860,000 after acquiring an additional 5,520 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Watts Water Technologies by 10.8% during the 3rd quarter. Deutsche Bank AG now owns 221,850 shares of the technology company’s stock worth $18,411,000 after acquiring an additional 21,595 shares in the last quarter. 75.89% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on WTS. Janney Montgomery Scott cut Watts Water Technologies from a “buy” rating to a “neutral” rating and upped their target price for the company from $81.00 to $83.00 in a report on Monday, February 11th. Oppenheimer restated a “hold” rating on shares of Watts Water Technologies in a report on Monday, February 11th. Finally, Seaport Global Securities upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating in a report on Tuesday, December 4th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $89.50.
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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. The company 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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