Watts Water Technologies (NYSE:WTS) Director Joseph Noonan Sells 3,650 Shares

Watts Water Technologies, Inc. (NYSE:WTS) Director Joseph Noonan sold 3,650 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Watts Water Technologies Trading Down 0.8%

Watts Water Technologies stock traded down $2.84 during midday trading on Wednesday, reaching $352.90. 42,848 shares of the stock traded hands, compared to its average volume of 268,784. The firm has a market cap of $11.78 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.13. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $362.79 and a two-hundred day simple moving average of $328.00. Watts Water Technologies, Inc. has a 12-month low of $260.00 and a 12-month high of $394.54.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.32. The company had revenue of $763.10 million for the quarter, compared to analyst estimates of $725.99 million. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.09 earnings per share. Research analysts expect that Watts Water Technologies, Inc. will post 12.75 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.63 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s payout ratio is 22.01%.

Analyst Upgrades and Downgrades

WTS has been the topic of a number of research reports. TD Cowen increased their target price on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Royal Bank Of Canada boosted their price target on shares of Watts Water Technologies from $350.00 to $417.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. KeyCorp upped their price objective on Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $358.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $367.70.

Institutional Trading of Watts Water Technologies

Several hedge funds have recently added to or reduced their stakes in WTS. California State Teachers Retirement System grew its holdings in Watts Water Technologies by 37,958.7% during the 2nd quarter. California State Teachers Retirement System now owns 12,479,817 shares of the technology company’s stock worth $4,885,224,000 after acquiring an additional 12,447,026 shares in the last quarter. Norges Bank acquired a new stake in shares of Watts Water Technologies in the 4th quarter valued at $100,627,000. AQR Capital Management LLC lifted its position in shares of Watts Water Technologies by 148.3% during the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock worth $68,276,000 after purchasing an additional 165,837 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Watts Water Technologies by 20,071.4% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock worth $40,989,000 after purchasing an additional 140,500 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of Watts Water Technologies by 223.0% during the third quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after purchasing an additional 139,637 shares in the last quarter. 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.