Watts Water Technologies (NYSE:WTS) Director Joseph Noonan Sells 3,650 Shares of Stock

Watts Water Technologies, Inc. (NYSE:WTS) Director Joseph Noonan sold 3,650 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $351.83 on Thursday. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average is $362.75 and its 200-day moving average is $328.11. Watts Water Technologies, Inc. has a twelve month low of $260.00 and a twelve month high of $394.54. The firm has a market capitalization of $11.75 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 3.49 and a beta of 1.13.

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

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.63 dividend. 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 (DPR) is presently 22.01%.

Analysts Set New Price Targets

WTS has been the subject of a number of recent research reports. Robert W. Baird set a $405.00 price objective on Watts Water Technologies in a report on Friday, August 7th. Royal Bank Of Canada lifted their target price on Watts Water Technologies from $350.00 to $417.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Weiss Ratings upgraded Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Finally, TD Cowen raised their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $367.70.

Hedge Funds Weigh In On Watts Water Technologies

Several hedge funds have recently modified their holdings of the company. Kingsview Wealth Management LLC purchased a new position in Watts Water Technologies in the fourth quarter worth $2,848,000. Cumberland Partners Ltd increased its position in shares of Watts Water Technologies by 100.0% during the 4th quarter. Cumberland Partners Ltd now owns 13,000 shares of the technology company’s stock valued at $3,588,000 after purchasing an additional 6,500 shares during the last quarter. Mach 1 Financial Group LLC bought a new stake in shares of Watts Water Technologies during the 4th quarter worth $1,950,000. Candriam S.C.A. raised its stake in shares of Watts Water Technologies by 26.6% during the 1st quarter. Candriam S.C.A. now owns 34,579 shares of the technology company’s stock worth $10,038,000 after purchasing an additional 7,256 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Watts Water Technologies by 94.2% in the 4th quarter. Handelsbanken Fonder AB now owns 61,624 shares of the technology company’s stock worth $17,009,000 after buying an additional 29,896 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.