Watts Water Technologies (NYSE:WTS) Director Sells $1,291,078.00 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) Director Joseph Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Watts Water Technologies Stock Up 2.1%

Shares of NYSE:WTS opened at $363.05 on Friday. Watts Water Technologies, Inc. has a 1-year low of $260.00 and a 1-year high of $394.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. The stock has a market cap of $12.12 billion, a P/E ratio of 31.71, a P/E/G ratio of 3.49 and a beta of 1.13. The firm has a fifty day moving average price of $362.46 and a 200 day moving average price of $328.55.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The company had revenue of $763.10 million for the quarter, compared to analyst estimates of $725.99 million. During the same period in the previous year, the business posted $3.09 earnings per share. Watts Water Technologies’s quarterly revenue was up 18.6% on a year-over-year basis. Sell-side analysts predict that Watts Water Technologies, Inc. will post 12.75 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio is currently 22.01%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WTS shares. KeyCorp boosted their target price on Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Royal Bank Of Canada increased their price target on Watts Water Technologies from $350.00 to $417.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. TD Cowen lifted their price objective on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Robert W. Baird set a $405.00 price objective on shares of Watts Water Technologies in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Watts Water Technologies has a consensus rating of “Hold” and a consensus price target of $367.70.

Institutional Trading of Watts Water Technologies

Hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its position in Watts Water Technologies by 37,958.7% in the second quarter. California State Teachers Retirement System now owns 12,479,817 shares of the technology company’s stock worth $4,885,224,000 after acquiring an additional 12,447,026 shares in the last quarter. Boston Partners boosted its position in shares of Watts Water Technologies by 2.2% during the 3rd quarter. Boston Partners now owns 907,336 shares of the technology company’s stock worth $253,211,000 after purchasing an additional 19,247 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Watts Water Technologies by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 832,148 shares of the technology company’s stock worth $229,721,000 after purchasing an additional 25,501 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Watts Water Technologies by 6.7% during the 1st quarter. First Trust Advisors LP now owns 545,404 shares of the technology company’s stock worth $158,325,000 after purchasing an additional 34,381 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Watts Water Technologies by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 522,624 shares of the technology company’s stock valued at $144,261,000 after purchasing an additional 1,418 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

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.