Watts Water Technologies (NYSE:WTS) CAO Sells $167,451.90 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) CAO Virginia Halloran sold 605 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the transaction, the chief accounting officer owned 13,412 shares in the company, valued at $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Watts Water Technologies Trading Down 0.6%

Shares of NYSE WTS opened at $279.35 on Friday. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $287.89. The firm has a market cap of $9.32 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.97 and a beta of 1.23. The business has a fifty day simple moving average of $274.64 and a two-hundred day simple moving average of $267.60. The company has a quick ratio of 1.84, a current ratio of 2.83 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.The firm had revenue of $611.70 million for the quarter, compared to analyst estimates of $576.20 million. During the same quarter last year, the firm posted $2.03 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.52 dividend. The ex-dividend date was Monday, December 1st. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s payout ratio is currently 21.47%.

Wall Street Analysts Forecast Growth

WTS has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 price objective for the company. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Barclays upped their price objective on 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. Zacks Research lowered Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Watts Water Technologies in a report on Monday, December 15th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $279.25.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings in Watts Water Technologies by 29.7% in the third quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock worth $71,000 after acquiring an additional 58 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Watts Water Technologies by 15.9% during the third quarter. IFP Advisors Inc now owns 335 shares of the technology company’s stock valued at $94,000 after acquiring an additional 46 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Watts Water Technologies in the 3rd quarter valued at approximately $352,000. CIBC Bancorp USA Inc. acquired a new stake in Watts Water Technologies in the 3rd quarter worth approximately $818,000. Finally, Coldstream Capital Management Inc. acquired a new stake in Watts Water Technologies in the 3rd quarter worth approximately $1,913,000. 95.02% of the stock is owned by institutional investors and hedge funds.

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.