Insider Selling: Watts Water Technologies (NYSE:WTS) Major Shareholder Sells $1,855,588.48 in Stock

by · The Cerbat Gem

Watts Water Technologies, Inc. (NYSE:WTSGet Free Report) major shareholder Timothy Horne sold 6,814 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $272.32, for a total value of $1,855,588.48. Following the sale, the insider owned 15,000 shares of the company’s stock, valued at approximately $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Watts Water Technologies Trading Up 2.7%

NYSE WTS traded up $7.28 during trading on Tuesday, hitting $277.66. The stock had a trading volume of 92,967 shares, compared to its average volume of 189,110. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $287.89. The firm has a 50 day moving average price of $275.67 and a 200 day moving average price of $263.12. The company has a market capitalization of $9.26 billion, a PE ratio of 29.86, a PEG ratio of 3.27 and a beta of 1.17. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTSGet Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.21. The company had revenue of $611.70 million for the quarter, compared to the consensus estimate of $576.20 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 EPS. Watts Water Technologies has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, December 1st. Watts Water Technologies’s dividend payout ratio (DPR) is currently 21.47%.

Hedge Funds Weigh In On Watts Water Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in WTS. MTM Investment Management LLC bought a new position in Watts Water Technologies in the second quarter worth approximately $25,000. Wexford Capital LP bought a new stake in shares of Watts Water Technologies in the 3rd quarter valued at approximately $26,000. Advisory Services Network LLC purchased a new stake in Watts Water Technologies in the 3rd quarter worth about $29,000. Cullen Frost Bankers Inc. lifted its position in shares of Watts Water Technologies by 156.9% during the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 80 shares during the last quarter. Finally, Costello Asset Management INC bought a new stake in Watts Water Technologies during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Wall Street Analyst Weigh In

WTS has been the topic of several research reports. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday. Stifel Nicolaus increased their target price on Watts Water Technologies from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Barclays boosted their price target on shares of Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Finally, Zacks Research lowered shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $264.25.

Read Our Latest Analysis on Watts Water Technologies

Watts Water Technologies Company Profile

(Get Free Report)

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.

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