Watts Water Technologies (NYSE:WTS) Major Shareholder Sells $2,475,300.00 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) major shareholder Timothy Horne sold 7,500 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the completion of the sale, the insider owned 7,500 shares of the company’s stock, valued at approximately $2,475,300. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Watts Water Technologies Stock Down 0.4%

Watts Water Technologies stock traded down $1.37 during midday trading on Monday, hitting $325.33. 51,445 shares of the stock were exchanged, compared to its average volume of 198,224. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $345.17. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $297.43 and its 200-day moving average price is $283.45. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The firm had revenue of $625.10 million during the quarter, compared to analyst estimates of $610.40 million. During the same quarter last year, the business posted $2.05 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, research analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.52 per share. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, February 27th. Watts Water Technologies’s dividend payout ratio (DPR) is 20.45%.

Hedge Funds Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Watts Water Technologies during the 4th quarter worth approximately $100,627,000. Cartenna Capital LP bought a new position in shares of Watts Water Technologies in the third quarter worth $47,478,000. AQR Capital Management LLC increased its holdings in shares of Watts Water Technologies by 148.3% in the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock worth $68,276,000 after purchasing an additional 165,837 shares during the period. UBS Group AG raised its position in shares of Watts Water Technologies by 223.0% in the third quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after buying an additional 139,637 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Watts Water Technologies by 20.7% in the 2nd quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock worth $197,728,000 after acquiring an additional 138,034 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Analyst Ratings Changes

WTS has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. The Goldman Sachs Group raised their price objective on shares of Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Jefferies Financial Group initiated coverage on shares of Watts Water Technologies in a research report on Friday, December 12th. They issued a “hold” rating and a $300.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $339.00 price target on shares of Watts Water Technologies in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $334.11.

About Watts Water Technologies

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.