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 the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $301.70, for a total value of $100,164.40. Following the sale, the director owned 2,212 shares in the company, valued at approximately $667,360.40. This trade represents a 13.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Watts Water Technologies Price Performance

Shares of NYSE WTS traded down $4.41 during trading on Friday, reaching $298.87. The company had a trading volume of 12,043 shares, compared to its average volume of 186,989. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $345.17. The stock has a market capitalization of $9.96 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 2.80 and a beta of 1.23. The stock has a 50-day moving average price of $307.86 and a two-hundred day moving average price 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 (NYSE:WTS) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. The business had revenue of $625.10 million for the quarter, compared to analyst estimates of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. As a group, sell-side analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company 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 dividend of $0.52 per share. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, February 27th. Watts Water Technologies’s dividend payout ratio (DPR) is currently 20.45%.

Institutional Investors Weigh In On Watts Water Technologies

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Watts Water Technologies in the 4th quarter valued at about $100,627,000. Cartenna Capital LP purchased a new stake in shares of Watts Water Technologies during the third quarter worth about $47,478,000. AQR Capital Management LLC increased its position in shares of Watts Water Technologies by 148.3% during the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock worth $68,276,000 after acquiring an additional 165,837 shares during the last quarter. UBS Group AG lifted its stake in shares of Watts Water Technologies by 223.0% in the third quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after acquiring an additional 139,637 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Watts Water Technologies by 20.7% in the second quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock valued at $197,728,000 after purchasing an additional 138,034 shares during the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WTS has been the subject of a number of analyst reports. Barclays boosted 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday, December 29th. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. KeyCorp increased their price objective 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, HSBC began coverage on shares of Watts Water Technologies in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $334.11.

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.