Watts Water Technologies (NYSE:WTS) Major Shareholder Timothy Horne Sells 7,500 Shares

Watts Water Technologies, Inc. (NYSE:WTS) major shareholder Timothy Horne sold 7,500 shares of Watts Water Technologies stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $330.04, for a total value of $2,475,300.00. Following the transaction, the insider directly owned 7,500 shares in the company, valued at approximately $2,475,300. The trade was a 50.00% 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 hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $323.44 on Tuesday. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $345.17. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $298.27 and a two-hundred day moving average of $283.89. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 2.97 and a beta of 1.24.

Watts Water Technologies (NYSE:WTS) last announced 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. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. 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 company posted $2.05 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. As a group, analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

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

Institutional Trading of Watts Water Technologies

Hedge funds have recently made changes to their positions in the stock. Beacon Harbor Wealth Advisors Inc. bought a new position in Watts Water Technologies during the third quarter worth $6,444,000. Allianz Asset Management GmbH grew its position 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 purchasing an additional 27,093 shares during the last quarter. AE Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 13,642 shares during the period. JPMorgan Chase & Co. raised its position 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 valued at $60,425,000 after buying an additional 23,447 shares during the last quarter. Finally, EULAV Asset Management lifted its stake in shares of Watts Water Technologies by 7.6% in the third quarter. EULAV Asset Management now owns 99,060 shares of the technology company’s stock valued at $27,665,000 after buying an additional 7,000 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports 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. Barclays increased their price target on 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. KeyCorp lifted their price target on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Jefferies Financial Group started coverage on Watts Water Technologies in a report on Friday, December 12th. They set a “hold” rating and a $300.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.