Watts Water Technologies (NYSE:WTS) Director Michael Dubose Sells 398 Shares

by · The Cerbat Gem

Watts Water Technologies, Inc. (NYSE:WTS – Get Free Report) Director Michael Dubose sold 398 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the transaction, the director owned 1,814 shares of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Watts Water Technologies Stock Down 1.3%

WTS traded down $4.18 during trading hours on Thursday, hitting $310.62. 396,517 shares of the company’s stock were exchanged, compared to its average volume of 233,448. The stock’s 50-day moving average is $298.04 and its two-hundred day moving average is $295.22. Watts Water Technologies, Inc. has a 1-year low of $237.15 and a 1-year high of $345.17. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 2.77 and a beta of 1.20. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same quarter last year, the firm posted $2.37 EPS. The company’s quarterly revenue was up 21.4% on a year-over-year basis. Sell-side analysts predict that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.63 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.52 annualized dividend and a yield of 0.8%. Watts Water Technologies’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

Several equities analysts have commented on WTS shares. Royal Bank Of Canada raised their target price on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Wall Street Zen lowered shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Barclays decreased their target price on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. Finally, KeyCorp lifted their price target on shares of Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $329.44.

View Our Latest Research Report on WTS

Institutional Investors Weigh In On Watts Water Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Boston Partners grew its holdings in 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 acquiring an additional 19,247 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 25,501 shares during the last quarter. First Trust Advisors LP grew its holdings in 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 acquiring an additional 34,381 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Watts Water Technologies by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 522,624 shares of the technology company’s stock worth $144,261,000 after acquiring an additional 1,418 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Watts Water Technologies by 34.4% in the 3rd quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after purchasing an additional 120,090 shares during the period. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Company Profile

(Get Free Report)

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.

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