Kenneth Robert Lepage Sells 5,025 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) General Counsel Kenneth Robert Lepage sold 5,025 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the completion of the sale, the general counsel owned 12,284 shares in the company, valued at $3,944,146.72. This represents a 29.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Watts Water Technologies Price Performance

WTS stock opened at $328.80 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51. The business has a 50-day simple moving average of $296.48 and a two-hundred day simple moving average of $282.73. The company has a market capitalization of $10.97 billion, a P/E ratio of 32.33, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $345.17.

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

Watts Water Technologies Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.52 dividend. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 1.9%. Watts Water Technologies’s dividend payout ratio is presently 20.45%.

Analysts Set New Price Targets

A number of research firms recently weighed in on WTS. The Goldman Sachs Group raised their price target on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Wall Street Zen raised shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. TD Cowen reissued a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Robert W. Baird set a $361.00 target price on Watts Water Technologies in a report on Friday, February 13th. Finally, Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Watts Water Technologies currently has an average rating of “Moderate Buy” and an average target price of $334.11.

Hedge Funds Weigh In On Watts Water Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Beacon Harbor Wealth Advisors Inc. bought a new stake in Watts Water Technologies during the 3rd quarter valued at $6,444,000. Allianz Asset Management GmbH grew 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 acquiring an additional 27,093 shares during the last quarter. AE Wealth Management LLC increased its position in shares of Watts Water Technologies by 10.9% in the third quarter. AE Wealth Management LLC now owns 138,293 shares of the technology company’s stock valued at $38,622,000 after acquiring an additional 13,642 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Watts Water Technologies in the second quarter valued at about $233,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Watts Water Technologies by 10.5% during the second quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock worth $60,425,000 after purchasing an additional 23,447 shares during the period. 95.02% of the stock is owned by institutional investors.

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.