Robert Pagano, Jr. Sells 16,066 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) CEO Robert Pagano, Jr. sold 16,066 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total value of $5,258,562.46. Following the completion of the sale, the chief executive officer owned 191,202 shares in the company, valued at $62,582,326.62. This represents a 7.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock opened at $326.57 on Friday. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24. 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 business has a 50-day moving average of $297.43 and a 200 day moving average of $283.32. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17.

Watts Water Technologies (NYSE:WTS) last issued its quarterly 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. The business had revenue of $625.10 million for the quarter, compared to analysts’ expectations of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 earnings per share. As a group, sell-side analysts forecast that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently declared 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. 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 payout ratio is 20.45%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Wells Fargo & Company set a $275.00 target price on shares of Watts Water Technologies in a research note on Thursday, January 8th. Jefferies Financial Group assumed 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 target for the company. KeyCorp boosted their price target on shares of Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $334.11.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WTS. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Watts Water Technologies during the 3rd quarter worth approximately $6,444,000. Allianz Asset Management GmbH increased its holdings in shares of Watts Water Technologies by 17.7% in the third quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company’s stock valued at $50,375,000 after purchasing an additional 27,093 shares during the period. AE Wealth Management LLC raised its position in Watts Water Technologies by 10.9% during 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 during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Watts Water Technologies during the 2nd quarter worth $233,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Watts Water Technologies by 10.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock worth $60,425,000 after acquiring an additional 23,447 shares during the period. Institutional investors and hedge funds 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.