Watts Water Technologies (NYSE:WTS) Issues Earnings Results

Watts Water Technologies (NYSE:WTS) posted its quarterly earnings data on Wednesday. The technology company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.26, Zacks reports. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.

Watts Water Technologies Trading Down 0.2%

NYSE WTS traded down $0.52 during trading hours on Wednesday, reaching $314.50. The company’s stock had a trading volume of 182,153 shares, compared to its average volume of 181,318. Watts Water Technologies has a 52 week low of $177.59 and a 52 week high of $321.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.83 and a quick ratio of 1.84. The stock has a market cap of $10.49 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.97 and a beta of 1.24. The firm has a fifty day simple moving average of $288.85 and a 200-day simple moving average of $279.63.

Watts Water Technologies Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 2.0%. Watts Water Technologies’s dividend payout ratio is currently 21.47%.

Analyst Ratings Changes

WTS has been the topic of several recent research reports. TD Cowen reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th. Royal Bank Of Canada initiated coverage on Watts Water Technologies in a research report on Monday, January 5th. They set a “sector perform” rating and a $288.00 target price for the company. Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a research note on Thursday, January 8th. Barclays increased their price objective on shares of Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Finally, KeyCorp raised shares of Watts Water Technologies from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $288.57.

Insider Buying and Selling at Watts Water Technologies

In other news, CAO Virginia A. Halloran sold 605 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total transaction of $167,451.90. Following the completion of the transaction, the chief accounting officer directly owned 13,412 shares in the company, valued at $3,712,173.36. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Timothy P. Horne sold 6,814 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total value of $1,855,588.48. Following the completion of the sale, the insider owned 15,000 shares in the company, valued at $4,084,800. The trade was a 31.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,611 shares of company stock valued at $2,347,509 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Trading of Watts Water Technologies

Several hedge funds have recently modified their holdings of WTS. Integrated Wealth Concepts LLC increased its holdings in shares of Watts Water Technologies by 10.2% during the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock valued at $385,000 after acquiring an additional 174 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Watts Water Technologies by 80.2% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after buying an additional 445 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Watts Water Technologies by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock valued at $20,163,000 after purchasing an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Watts Water Technologies in the second quarter worth $219,000. Finally, Cetera Investment Advisers lifted its position in shares of Watts Water Technologies by 43.2% during the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock valued at $426,000 after buying an additional 523 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

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.