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

Watts Water Technologies, Inc. (NYSE:WTS) CEO Robert Pagano, Jr. sold 16,066 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the transaction, the chief executive officer owned 191,202 shares of the company’s stock, valued at approximately $62,582,326.62. This trade represents a 7.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Watts Water Technologies Price Performance

NYSE:WTS opened at $326.57 on Friday. The stock has a 50 day moving average of $297.43 and a two-hundred day moving average of $283.19. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The firm has a market cap of $10.89 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. 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 released its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. During the same quarter last year, the business posted $2.05 earnings per share. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, 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 firm also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.52 dividend. 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

Several institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its stake in Watts Water Technologies by 10.2% during the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after acquiring an additional 174 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Watts Water Technologies by 80.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after purchasing an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after purchasing an additional 7,537 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Watts Water Technologies during the 2nd quarter worth about $219,000. Finally, CWM LLC raised its holdings in Watts Water Technologies by 59.1% in the 2nd quarter. CWM LLC now owns 1,125 shares of the technology company’s stock valued at $277,000 after buying an additional 418 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TD Cowen restated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Royal Bank Of Canada boosted their target price on Watts Water Technologies from $288.00 to $337.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a research report on Thursday, January 8th. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. Finally, Zacks Research upgraded Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Watts Water Technologies presently has an average 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.