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 on Thursday, March 12th. The shares were sold at an average price of $301.70, for a total transaction of $100,164.40. Following the completion of the transaction, the director directly owned 2,212 shares in the company, valued at $667,360.40. The trade was a 13.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Watts Water Technologies Stock Performance

WTS stock traded down $4.41 on Friday, hitting $298.87. The company’s stock had a trading volume of 12,043 shares, compared to its average volume of 186,989. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 2.80 and a beta of 1.23. The firm has a 50 day moving average of $307.86 and a two-hundred day moving average of $287.76. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $345.17.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data 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. The company had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. Watts Water Technologies’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $2.05 EPS. Equities analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.52 dividend. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 27th. Watts Water Technologies’s payout ratio is currently 20.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WTS. Integrated Wealth Concepts LLC increased its holdings in Watts Water Technologies by 10.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock valued at $385,000 after acquiring an additional 174 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Watts Water Technologies by 80.2% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock valued at $222,000 after purchasing an additional 445 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Watts Water Technologies by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock valued at $20,163,000 after purchasing an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Watts Water Technologies in the second quarter valued at approximately $219,000. Finally, Bank of Montreal Can increased its stake in shares of Watts Water Technologies by 4.2% during the 2nd quarter. Bank of Montreal Can now owns 3,377 shares of the technology company’s stock worth $830,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a report on Friday, February 13th. Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Barclays raised their price objective on shares of Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Finally, Robert W. Baird set a $361.00 target price on Watts Water Technologies in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $334.11.

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.