Michael Dubose Sells 398 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) Director Michael Dubose sold 398 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the sale, the director owned 1,814 shares in the company, valued at $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Watts Water Technologies Stock Down 0.8%

Shares of NYSE:WTS opened at $308.62 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The firm has a market capitalization of $10.30 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.76 and a beta of 1.20. The firm’s 50-day moving average is $298.47 and its two-hundred day moving average is $295.57. Watts Water Technologies, Inc. has a 1 year low of $237.15 and a 1 year high of $345.17.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. The company had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.37 earnings per share. Analysts predict that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.8%. Watts Water Technologies’s dividend payout ratio is 19.03%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $358.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Zacks Research lowered shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Royal Bank Of Canada boosted their price objective on Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, KeyCorp boosted their price objective on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $329.44.

Hedge Funds Weigh In On Watts Water Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wexford Capital LP acquired a new position in shares of Watts Water Technologies during the third quarter worth about $26,000. Acumen Wealth Advisors LLC acquired a new position in Watts Water Technologies in the fourth quarter valued at approximately $28,000. Advisory Services Network LLC acquired a new position in Watts Water Technologies in the third quarter valued at approximately $29,000. Clearstead Advisors LLC boosted its holdings in Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Watts Water Technologies in the fourth quarter valued at approximately $29,000. 95.02% of the stock is owned by institutional investors and hedge funds.

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.