Michael Dubose Sells 332 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) Director Michael Dubose sold 332 shares of Watts Water Technologies stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $301.70, for a total value of $100,164.40. Following the completion of the sale, the director owned 2,212 shares of the company’s stock, valued at $667,360.40. This trade represents a 13.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Watts Water Technologies Trading Down 1.8%

NYSE WTS opened at $297.83 on Friday. The company has a market cap of $9.93 billion, a P/E ratio of 29.28, a P/E/G ratio of 2.70 and a beta of 1.23. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49. The company has a 50-day moving average of $308.25 and a 200-day moving average of $287.91.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The business had revenue of $625.10 million for the quarter, compared to analysts’ expectations of $610.40 million. During the same period last year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, equities analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $0.52 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, February 27th. Watts Water Technologies’s dividend payout ratio (DPR) is 20.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. KeyCorp upped their price objective on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Zacks Research lowered Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. Stifel Nicolaus lifted their target price on Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $339.00 price target on shares of Watts Water Technologies in a research report on Friday, February 13th. Finally, Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a research note on Thursday, January 8th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $334.11.

Hedge Funds Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Watts Water Technologies during the 3rd quarter valued at $6,444,000. Allianz Asset Management GmbH lifted its holdings in Watts Water Technologies by 17.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company’s stock worth $50,375,000 after buying an additional 27,093 shares in the last quarter. AE Wealth Management LLC lifted its holdings in Watts Water Technologies by 10.9% in the 3rd quarter. AE Wealth Management LLC now owns 138,293 shares of the technology company’s stock worth $38,622,000 after buying an additional 13,642 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Watts Water Technologies by 80.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,978 shares of the technology company’s stock valued at $1,949,000 after buying an additional 3,101 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Watts Water Technologies by 10.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock valued at $60,425,000 after buying an additional 23,447 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

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.